News Topic: Prepaid cards

As the gig economy and prepaid cards draw more people into mainstream banking, the card providers are increasingly competing with one another instead of simply moving people away from cash. ... Read full article

The e-commerce giant is muscling its way into a number of businesses that banks have long dominated. ... Read full article

The major prepaid card issuer agreed to the penalty to settle allegations that it had charged higher fees than what was disclosed to customers. ... Read full article

The prepaid card issuer has bounced back from the hit it took after discontinuing a product that proved to be popular with fraudsters. ... Read full article

Mick Mulvaney’s unapologetic memo to staff about the Consumer Financial Protection Bureau’s mission headlined a spate of developments this past week as he continues to transform the agency. Here are the key developments. ... Read full article

Several banks won’t process cybercurrency transactions while others are reviewing their policies; agency promises flexibility to lenders. ... Read full article

The Consumer Financial Protection Bureau extended the effective date for its prepaid card rule to April 2019 and carved out an exception for arrangements where digital wallets are linked to a credit card. ... Read full article

Moments after the Consumer Financial Protection Bureau said it would reopen its mortgage disclosure rule, the bureau announced that the effective date for the prepaid rule would similarly be scrapped. ... Read full article

Green Dot's financial performance has improved substantially over the past year, enough for the prepaid card issuer to raise its outlook for the rest of the year. ... Read full article

The Pasadena, Calif., company reported net income of $19.3 million, up from $8 million in the same period a year earlier. ... Read full article

Six states and D.C. still charge in-network fees when unemployed workers cash in assistance delivered through prepaid cards. ... Read full article

American Express is giving its card customers an easy way to transact in cryptocurrency. ... Read full article

Before smartphones and digital wallets, a Georgia bank in the nineties partnered with a calling card provider to expand customer relationships and drive noninterest income. ... Read full article

The Consumer Financial Protection Bureau proposed further changes Thursday to its final rule on prepaid cards and is seeking public comment on whether to delay implementing it a second time. ... Read full article

CFPB runs out congressional clock and saves prepaid card rule ... Read full article

The Pasadena, Calif., firm also reported growth in the number of active prepaid cards for the first time since the second quarter of 2015. Profits rose by 24%. ... Read full article

The fight over a Consumer Financial Protection Bureau rule adding new restrictions to prepaid cards is intensifying as some Republicans hope to overturn it before a looming deadline expires. ... Read full article

Readers sound off an attempt to block prepaid regulations, threats to consumer privacy, FSOC’s political bent, the proper use for SARs, and more. ... Read full article