,,ii #aac? ,,congress #b;d ,session ,s4 #aijc ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,janu>y #i1 #bjad,mr4 ,w>n] introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ,a ,,bill ,to provide great] fee disclosures = consum]s :o h prepaid c>ds1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,prepaid ,c>d ,disclosure ,act ( #bjad4 #b4 ,sp5d+ acc\nts 7a7 ,sp5d+ acc\nts ,! ,electronic ,fund ,transf] ,act 7#ae ,u4,s4,c4 #afic et seq47 is am5d$-- 7#a7 by r$esignat+ section #ibc 7#ae ,u4,s4,c4 #afic note71 relat+ to ! effective date ( ! ,electronic ,fund ,transf] ,act1 z s designat$ by section #ajgc ( ! ,dodd-,frank ,wall ,/reet ,re=m & ,consum] ,protection ,act 7,public ,law #aaa-bjc2 #abd ,/at4 #bjfj71 z section #ibe2 7#b7 by r$esignat+ section #ibb 7#ae ,u4,s4,c4 #aficr71 relat+ to exemptions = ,/ate regulation1 z s designat$ by section #ajgc ( ! ,dodd-,frank ,wall ,/reet ,re=m & ,consum] ,protection ,act 7,public ,law #aaa-bjc2 #abd ,/at4 #bjfj71 z section #ibc2 & 7#c7 by ins]t+ aft] section #ibc1 z s r$esignat$1 ! foll[+3 #ibd4 ,sp5d+ acc\nts2 disclosure ( fee in=mation 7a7 ,def9ition ,= purposes ( ?is section1 ! t]m sp5d+ acc\nt-- 7#a7 means a transaction acc\nt1 o!r ?an z def9$ 9 section #ijc7b7-- 7,a7 t is e/abli%$ by a consum] or on behalf ( a consum] at an insur$ depository in/itution 7z def9$ 9 section #c7;c7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7;c7772 7,b7 t conta9s ! funds ( a consum]2 7,c7 to :i* paym5ts are to be made by a consum]1 or at ! direction ( a consum]2 7,d7 to :i* recurr+ electronic fund transf]s may be made1 at ! direction ( a consum]2 or 7,e7 f :i* paym5ts may be made at ! direction ( a consum] ?r\gh ! use ( a c>d1 code1 or device2 7#b7 includes a transaction acc\nt describ$ 9 p>agraph 7#a7-- 7,a7 t is op]at$ or manag$ by a f9ancial in/itution1 or any o!r p]son2 & 7,b7 ! funds ( :i* are-- 7i7 pool$ ) ! funds ( a p]son o!r ?an ! p]son :o e/abli%$ ! acc\nt2 or 7ii7 held 9 a "n o!r ?an t ( ! p]son :o e/abli%$ ! acc\nt2 & 7#c7 does n include-- 7,a7 a nonreloadable g5]al-use prepaid c>d1 z def9$ 9 section #iae7;a77#b77;,a71 9 an am\nt t does n exce$ #bej2 7,b7 a g5]al-use prepaid c>d1 z def9$ 9 section #iae7;a77#b77;,a71 t is solely associat$ )-- 7i7 a heal? plan to :i* section #aje ( ! ,int]nal ,rev5ue ,code ( #aihf applies2 7ii7 a qualifi$ transportation fr+e1 z def9$ 9 section #acb7;f7 ( ! ,int]nal ,rev5ue ,code ( #aihf2 7iii7 a heal? sav+s acc\nt1 z def9$ 9 section #bbc7;d7 ( ! ,int]nal ,rev5ue ,code ( #aihf2 or 7iv7 any o!r heal?c>e b5efit acc\nt1 includ+ a heal?c>e acc\nt relat+ to ,m$ic>e or ,m$icaid b5efits2 7,c7 a gift c]tificate1 z def9$ 9 section #iae7;a77#b77;,b72 7,d7 a /ore gift c>d1 z def9$ 9 section #iae7;a77#b77;,c72 7,e7 an electronic promise1 pla/ic c>d1 or paym5t code or device describ$ 9 clause 7i71 7v71 or 7vi7 ( section #iae7;a77#b77;,d72 7,f7 a nonreloadable c>d label$ z a gift c>d & m>ket$ solely z a gift c>d2 7,g7 a nonreloadable loyalty1 rebate1 or promotional c>d2 or 7,h7 a debit c>d or g5]al-use prepaid c>d t has be5 provid$ to a p]son pursuant to a ,f$]al1 ,/ate or local gov]nm5t adm9i/]$ paym5t program1 9 :i* ! p]son may only use ! debit c>d or g5]al-use prepaid c>d to transf] or debit funds1 monet>y value1 or o!r assets t h be5 provid$ pursuant to su* program4 7b7 ,disclosure ( fee in=mation 7#a7 ,disclosure requir$ ,ea* f9ancial in/itution or entity t is op]at$1 manag$1 or controll$ by a f9ancial in/itution1 or any o!r p]son t (f]s a sp5d+ acc\nt %all provide to a consum]-- 7,a7 toge!r ) any application1 (f]1 or solicitation = a sp5d+ acc\nt1 a table ( any fees t may be *>g$ 9 connection ) ! sp5d+ acc\nt t-- 7i7 c be easily und]/ood by ! consum]2 7ii7 is cle>ly & conspicu\sly display$ to ! consum] be=e pur*ase2 & 7iii7 includes1 at a m9imum1 ! am\nt & a description ( ea* fee t may be *>g$ 9 connection ) ! sp5d+ acc\nt by ! f9ancial in/itution or entity t is op]at$1 manag$1 or controll$ by a f9ancial in/itution1 or any o!r p]son2 & 7,b7 on ! c>d or o!r means ( access1 a toll-free telephone numb] & website at :i* ! consum] may access a cle> & conspicu\s disclosure ( ! fees t may be *>g$ 9 connection ) ! sp5d+ acc\nt4 7#b7 ,,qr code ,! ,bureau may1 9 accordance ) any rules e/abli%$ "u p>agraph 7#c7 & 9 addition to ! disclosure requirem5ts "u p>agraph 7#a71 require ! placem5t ( a ,,qr code1 b>code1 or o!r simil> te*nology on any packag+1 c>d1 or o!r object associat$ ) a sp5d+ acc\nt1 provid$ t su* ,,qr code1 b>code1 or o!r te*nology is capable ( provid+ an electronic l9k to ! disclosures requir$ "u p>agraph 7#a7 to a consum]4 7#c7 ,rules ,n lat] ?an #i mon?s aft] ! date ( enactm5t ( ! ,prepaid ,c>d ,disclosure ,act ( #bjad1 ! ,bureau %all e/abli%1 by rule1 ! head+s1 cont5t1 & =mat ( ! fee table & e/imate requir$ "u p>agraph 7#a74 4 7b7 ,te*nical & con=m+ am5dm5ts ,section #ijc ( ! ,electronic ,fund ,transf] ,act 7#ae ,u4,s4,c4 #afic;a7 is am5d$-- 7#a7 by r$esignat+ p>agraph 7#d7 7relat+ to ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em71 z s designat$ by section #ajhd7b77;,a7 ( ! ,dodd-,frank ,wall ,/reet ,re=m & ,consum] ,protection ,act 7,public ,law #aaa-bjc2 #abd ,/at4 #bjha71 z p>agraph 7#c72 & 7#b7 9 p>agraph 7#c71 z s r$esignat$1 by /rik+ t]m ,bureau means ! ,bureau ( ,gov]nors & ins]t+ t]m ,bo>d means ! ,bo>d ( ,gov]nors4 7c7 ,pres]vation ( au?ority ,no?+ 9 ?is ,act %all be con/ru$ to limit1 am5d1 or o!rwise alt] ! au?ority ( ! ,bureau ( ,consum] ,f9ancial ,protection to issue & adopt rules1 take any action1 or ex]cise any o!r p[] "u ! ,electronic ,fund ,transf] ,act1 includ+ ) respect to g5]al-use prepaid c>ds or any o!r electronic fund transf] product n subject to ! provisions ( ?is ,act4 7d7 ,rule ( con/ruction relat+ to ,,ebt c>ds ,no?+ 9 ?is ,act %all be con/ru$ to affect ! regulation ( electronic b5efit transf]s by ! ,bureau ( ,consum] ,f9ancial ,protection4