New regs for Tuesday: Prepaid cards, mortgages, power plants

Tuesday’s edition of the Federal Register delays new rules for prepaid cards and power plants.

Here’s what is happening:

Prepaid: The Consumer Financial Protection Bureau (CFPB) is delaying new rules for prepaid cards.

The CFPB issued the regulations last October to protect consumers who use prepaid cards, but is now delaying those rules by six months to give industry more time to comply with the changes.

The rules will now go into effect on April 1, 2018. 

Mortgages: The CFPB is proposing changes to the mortgage rule.

The CFPB issued the home mortgage disclosure regulation in October 2015, but is now proposing amendments to the rule to clarify requirements and correct errors in the original rule.

The public has 30 days to comment.

Power plants: The Environmental Protection Agency (EPA) is delaying a controversial Obama-era regulation for steam electric power plants.

The power plant regulation was issued in November 2015, but is facing court challenge. The EPA plans to postpone the rule until the case is resolved.

The EPA previously announced the postponement in a letter earlier this month but is now formalizing the delay in the Federal Register.

The postponement goes into effect immediately.