Any new regulation of the prepaid card industry by the Consumer Financial Protection Bureau could be delayed until at least early 2013 while the agency sifts through industry input and works to finalize mortgage regulation mandated by Congress.

In a recent CFPB Monitor blog post, Alan S. Kaplinsky, who leads Ballard Spahr’s Consumer Financial Services Group, cited comments by CFPB staff lawyer Stephen Shinn, who indicated during an address at the ABA Annual Meeting in Chicago that any prepaid rule wouldn’t be proposed until after Dodd-Frank-related regulation is finalized.

Mr. Kaplinsky said the delay came as “something of a surprise” but noted that, when the agency does issue a proposed rule, any finalized regulation would require even more time.

“Bear in mind that the next step will be to issue a proposed regulation," he said. "There will need to be yet another comment period. Thus, I would not expect final regulation before the latter part of next year.”