Prepaid cards

CFPB urged to take more active role in coronavirus response

03/30/20

The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau to do more to aid consumers suffering financial hardship.

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CFPB postpones quarterly HMDA reporting

03/26/20

The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.

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Green Dot hires former NetSpend boss Dan Henry as new CEO

03/25/20

Former NetSpend CEO Dan Henry has been named as the CEO of Green Dot, the Pasadena, Calif.-based prepaid card issuer and banking company.

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Treasury renews Comerica contract for benefits program hit by fraud

01/07/20

Comerica Bank won another five-year contract from the Treasury Department to run the prepaid Direct Express card program despite criticism of how it handled past fraud cases and customer service blunders.

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Green Dot CEO, a prepaid card pioneer, to step down Dec. 31

12/19/19

Steve Streit is retiring as part of a shakeup in the firm's management ranks. The Pasadena, Calif.-based company that he founded in 1999 has been suffering amid new competition from challenger banks.

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Why PayPal is suing the CFPB over its prepaid card rules

12/12/19

PayPal — which is rarely thought of as a prepaid card company — has filed a lawsuit against the CFPB over its rules on prepaid accounts, underscoring the rapid changes in digital financial services and PayPal’s own expanding financial services ambitions in recent years.

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Neobanks pose latest threat to prepaid card issuer Green Dot

11/08/19

Earlier this decade, a boom in low-cost prepaid cards undercut the firm's business model. Now the fiercest competition is coming from venture capital-backed startups that offer accounts with no overdraft fees.

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Green Dot renews vital card partnership with Walmart

10/29/19

The two companies agreed to continue to collaborate on a prepaid card program until 2027. The deal holds particular importance for Green Dot, which relies heavily on revenue generated at the discount retail giant.

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MetaBank sees consumer demand for faster payments

08/27/19

A new study released by the prepaid issuer MetaBank finds that most consumers want businesses to use faster payment methods when sending them money for refunds, rebates and claim payments.

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IG to Treasury: Don't whitewash lapses in Comerica benefits program

08/22/19

An inspector general’s findings suggest that the Texas bank could face more consequences over how it handled fraud cases last year tied to the Direct Express program.

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