News Topic: Prepaid cards
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Prepaid cards have real value. Don't be fooled by isolated incidents.
Prepaid cards fill gaps in Canada's banking market
Walmart, Green Dot convert MoneyCard to a deposit account
Bank of America fixes ordered after hacked customers ‘go hungry’
FSS adds currency purses for branded prepaid cards
Walgreens eyes Wall Street’s turf with new bank account offering
Green Dot warns bump from stimulus checks was likely a one-off
Prepaid customers’ COVID relief spending boosted the bank’s bottom line in 2020, but executives don't count on a repeat performance. ... Read full article
Green Dot readies GO2bank to take on new generation of challengers
As challenger banks threaten Green Dot Corp.'s status among the underbanked, the prepaid card issuer is diving into their market by unveiling a challenger bank of its own. ... Read full article
A debit account that rewards users for shopping at Black businesses
The media company Urban One has launched a new account that includes a prepaid debit card and encourages customers to buy from Black-owned business and lets them donate their cash back to charity. ... Read full article
Government stimulus spending boosts Green Dot’s earnings
The prepaid card company benefited during the second quarter from payments that were designed to offset the pandemic’s impact on U.S. consumers. ... Read full article
Patriot in Connecticut buys portfolio of prepaid debit card deposits
The company said the acquisition should lower its funding costs and shore up its net interest margin. ... Read full article
Treasury using prepaid cards to speed delivery of stimulus payments
Nearly 4 million households that were to be mailed paper checks will instead receive their pandemic relief aid via prepaid debit cards issued by MetaBank. ... Read full article
How Dan Henry aims to turn Green Dot around
The prepaid card issuer will rely less on promotional marketing and more on its banking charter to drive profits, Henry said in his first public remarks since taking over as CEO in March. ... Read full article
CFPB paves way for consumers to get stimulus funds via prepaid cards
The Consumer Financial Protection Bureau wants to make it easier for those who lack bank accounts to receive pandemic relief payments authorized by Congress. ... Read full article
Brown, Warren call on CFPB to protect consumers, not financial firms
Five Democrats on the Senate Banking Committee sent a letter to Director Kathy Kraninger calling the agency's response to COVID-19 “tepid and ineffectual at best.” ... Read full article
CFPB urged to take more active role in coronavirus response
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. ... Read full article
CFPB postpones quarterly HMDA reporting
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. ... Read full article
Green Dot hires former NetSpend boss Dan Henry as new CEO
Former NetSpend CEO Dan Henry has been named as the CEO of Green Dot, the Pasadena, Calif.-based prepaid card issuer and banking company. ... Read full article
Treasury renews Comerica contract for benefits program hit by fraud
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. ... Read full article