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In White House Budget Analysis, a Logjam for Prepaid Card Rule
By Colby Adams
printA congressionally-mandated plan to require U.S. border crossers to declare funds held on prepaid cards remains stalled at the White House more than a year after its submission for final review. Despite having a copy of the proposed rule since February 2013, the White House's Office of Information and Regulatory Affairs (OIRA) has yet to complete a mandatory cost-benefit analysis of the potential regulation. Under a 1993 executive order, the agency has a 90-day window to review the 23-page rulemaking proposal. Mandated by the 2009 Credit Card Accountability Responsibility and Disclosure (CARD) Act, the proposed rule would amend the definition...
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