Cash Management Regulations Overview

This session will provide guidance about the final regulations that changed the requirements for institutions that partner with banks and servicers to offer debit cards, prepaid cards, student IDs with financial account capabilities, and similar products. We will provide an overview about why these regulatory changes were necessary and will explain the new requirements for institutions including: limitations on fees, disclosure requirements, and limitations on sharing information. We also will provide information about other changes, including confirming students’ eligibility, paying credit balances before seeking reimbursement from the Department, including the cost of books and supplies in tuition, among other topics.