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CFPB Considers Another Prepaid Rule Delay and other Digital Transactions News briefs
June 16, 2017

• The Consumer Financial Protection Bureau has issued a proposal adjusting certain provisions of its massive rule for prepaid accounts and asking for comment on whether the effective date for the rule should be delayed a second time. The proposed adjustments concern requirements for error resolution on unregistered accounts and wider flexibility for credit cards linked to digital wallets. The CFPB in April delayed the effective date of the rule by six months, from Oct. 1, 2017 to April 1, 2018.

• Blockchain startup Circle Internet Financial Ltd. announced it has eliminated fees and foreign-exchange markups on money transfers among senders and receivers in the United States, the United Kingdom, and Europe. The transfers are also occurring with instant effect, the company said.

• LivePerson Inc., a provider of online-messaging services, has announced LiveEngage with IBM Corp. The platform uses IBM's Watson artificial-intelligence technology to support chatbots for customer-service functions, including acceptance of bill payments.

• Card brand UnionPay International named Chen Jing as head of its Americas business. Jing previously was general manager of the products department at the company. Miriam Park, the former head of the Americas business, moves to the position of general manager for South Korea.

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