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The CFPB is accepting comments through April 5 on its proposal to delay the effective date of its prepaid account rule until April 1, 2018. The rule is currently set to take effect Oct. 1.

NAFCU will submit comments. It supports the six-month delay, proposed last week, but remains disappointed that credit unions' unique structure and high level of member service were not recognized in the final rule.

NAFCU had previously asked the CFPB for a minimum 18-month implementation timeline to address the challenges involved with this rule.

The prepaid rule creates new consumer protections for prepaid accounts under Regulations E and Z. The rule was finalized in October 2016, leaving credit unions only a year to prepare.

NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt called for lawmakers to use the Congressional Review Act to unwind recent regulation, including the prepaid rule.