Reuters: Prepaid Debit Cards Should Be More Heavily Regulated – Study
Prepaid debit cards, which are popular with consumers who are too poor for checking accounts, are too lightly regulated and should face more restrictions, according to a study released by Pew Charitable Trusts released on Wednesday.
Prepaid debit cards have become popular now that many banks have jacked up fees for checking-account consumers with low balances. Major consumer banks like JPMorgan Chase & Co and USBancorp have recently begun offering the cards.
Read the full article at reuters.org.
- Prepaid Cards Research Project