Regulation Z refers to the section of the rules implements Truth in Lending Act requirements.

NAFCU officials had said they did not believe that the rule should apply to credit union issuers of prepaid accounts.

The revised rule provides that error resolution and liability limitation protections apply after a consumer's identity has been verified.

“These changes will help encourage prompt registration and streamline compliance for financial institutions as well as ensure continued availability and utility of prepaid accounts for consumers,” the agency said.

The rule also changes the digital wallet provisions to ensure that consumers continue to receive full credit card protections on their existing credit card accounts while making it easier for them to link those accounts to digital wallets that can store funds.

Meanwhile, congressional Democrats are asking for a Department of Justice probe into the validity of comments about proposed rules that were posted on several agency websites, including the CFPB.

The House Democrats said they had originally requested that the Justice Department investigate the possibility that fake comments had been posted on the Federal Communications Commission website.

However, they said that based on a Wall Street Journal investigation, they believe the practice is more widespread and cited the CFPB's payday lending rules as an example.

They said the Journal reported that many of the phony comments came through a comment-generating website operated by the Community Financial Services Association of America, a trade group representing payday lenders.

“Immediate action is needed to restore public trust in the federal rulemaking process,” the Democrats said.

Officials from the payday lending association defended their efforts in opposition to the rule.

“There is overwhelming and authentic opposition to the rule,” said association CEO Dennis Shaul. “The comment period afforded virtually the only opportunity for ordinary citizens to make their views known on the record.”

Shaul said that the association provided training for member companies and their employees. Those employees were instructed to tell customers that they were not required to file comments.

The letter requesting the Justice Department probe was signed by Democratic Reps. Elijah Cummings of Maryland, Frank Pallone of New Jersey, Robert Scott of Virginia and Jerrold Nadler of New York.