Prepaid cards are hugely popular. Because they’re so widely accessible, Regulation E was expanded to include protection for prepaid accounts. New rules have been amended to handle periodic statements for prepaid cards, pre-acquisition disclosures, changes in error resolution and liability limitations, as well as fee schedules. In Part 1 of the Prepaid Rule, we’ll talk about which accounts and cards are covered, and which ones are not. We’ll talk about error resolution and liability limitations, and exceptions for unverified prepaid accounts. Lastly, we’ll discuss the required changes for periodic statements and alternatives.