As part of its Project Catalyst, the CFPB’s initiative for facilitating innovation in consumer-friendly financial products and services, the CFPB has announced a new research pilot using insights from behavioral economics and an American Express trial program to evaluate the effectiveness of certain practices to encourage prepaid card users to develop regular saving behavior.  

The U.S. Government Accountability Office (GAO) has joined the CFPB’s call for more transparency in the area of campus financial products.  Last week, the GAO issued a report on college debit cards in which the GAO recommended that Congress consider requiring financial institutions that provide debit and prepaid card services to colleges to publicly disclose

CFPB Director Richard Cordray was among the federal financial regulators who attended a closed door meeting yesterday with President Obama.  Other regulators attending the meeting included the Chairs of the Fed, FDIC and SEC.  At the meeting, President Obama was expected to urge the regulators to complete Dodd-Frank rulemaking. 

The Dodd-Frank rulemaking still on the