prepaid debit cards
The measure "would have been a travesty" for consumers, an advocate said.
The world of prepaid cards can be confusing. That's particularly true with fees. How much you'll pay each month depends not only the prepaid card you choose, but also on how you use the card.
Angry customers' only recourse may be arbitration.
The Consumer Financial Protection Bureau (CFPB) is a relatively new federal agency that was born in a swirl of political controversy, thanks to harsh opposition from many members of the financial industry and the lawmakers who strive to protect their interests.
Receiving your tax return on a prepaid card is a great alternative for those who don't have a traditional checking account and don't want to wait for their check via snail mail.
The prepaid card market was once the wild west of the banking industry. The players in the industry charged ridiculous fees, offered little in the way of added benefits, and treated cardholders poorly. Those days are long gone.
Teachers and other professionals get a lot of gifts in December. Trouble is, teachers have way too many mugs, plaques, scarves/neckties, candles, pencil jars and picture frames. In the current mindset of 'experiences, not stuff,' why not give a prepaid gift card?
Can you Really Help Your Fav Charity with Every Purchase You Make on a Prepaid or Affinity Debit Card?
Only after closely examining a fee schedule should a consumer decide if the potential drawbacks of an affinity prepaid debit card are worth a nice design or benefits to a favored charity.
Prepaid debit cards might not be the best option for people who could opt for a low-cost checking account instead -- but for those who can't, prepaid cards actually make great checking account alternatives as long as the cardholder takes the time to find the right one.
Although the market for prepaid debit cards has been steadily expanding and attracting big name financial players like American Express, consumer advocates have expressed concern about a lack of regulatory oversight.