At some point in the coming weeks, Congress is set to consider a fast-tracked proposal that would nullify a slew of new protections for the millions of Americans who use prepaid debit cards. With the clock ticking down to that vote, a lawsuit is trying to compel the release of any communications about these rules between industry lobbyists, lawmakers, and federal regulators. [More]
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As Congress Preps To Scrap Prepaid Card Protections, Lawsuit Seeks Release Of Emails Between Lawmakers & Lobbyists
By 4.18.17 — Updated: 5.9.17
Congress Trying To Roll Back Consumer Protections For Prepaid Cards
By 2.3.17
Last fall, weeks before the election, the Consumer Financial Protection Bureau concluded a three-year process of trying to make prepaid cards less costly. Those new rules, which would improve transparency and curb runaway fees, are set to go into effect later this year, but not if lawmakers on Capitol Hill have their say. [More]
Feds Accuse NetSpend Of Misleading Customers About Prepaid Debit Cards
By 11.10.16
NetSpend, one of the nation’s largest providers of prepaid debit cards, has been accused of violating federal law for allegedly misleading users into believing that funds loaded onto these cards will be available immediately, while some users say they had to wait weeks or were never able to access their funds. [More]
