Project News
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- Opinion
- Prepaid Cards Research Project
USA Today: Be Wary of Prepaid Card Protection
Policymakers can -- and should -- require prepaid card issuers to acquire FDIC insurance.
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December 3, 2012
Paying for the Holidays
As the holiday shopping season takes off, consumers are turning to a variety of financial management tools. View our slideshow and learn more about Pew’s research on hidden bank fees, the growing use of prepaid debit cards, and the actual duration of payday loans that are marketed as two-week products.
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- Press Release
- Prepaid Cards Research Project
Pew Finds Reloadable Prepaid Cards Risky Option for Consumers Compared to Checking Accounts
According to a new Pew report, general purpose reloadable (GPR) prepaid cards—used to make purchases, withdraw money from ATMs, and pay bills—can be used as an alternative to traditional checking accounts, but come with added risks. more
Media Coverage
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- Media Coverage
- Prepaid Cards Research Project
Washington Post: American Express Prepaid Debit Cards Get FDIC Insurance
American Express announced Tuesday that its prepaid debit cards will now be backed by the Federal Deposit Insurance Corp., the latest indication that a market once shunned by established financial institutions is gaining ground. The use of reloadable prepaid cards
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- Media Coverage
- Prepaid Cards Research Project
C-SPAN: Prepaid Cards
Susan Weinstock talks about the increased use of prepaid/debit payroll cards and the associated risks and benefits. more
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September 12, 2012
Wall Street Journal: Footnote to Financial Crisis: More People Shun the Bank
The Russell family of Kirkland, Wash., makes about $230,000 with Charles Russell, 43 years old, working as a systems analyst for Microsoft Corp. According to the U.S. Census Bureau, that puts them among the top 5% of American households. But their affluence might not be apparent based on the way Mr. Russell conducts his personal finances. He has no bank account, having dumped it due to irritation over fees and overdraft penalties. Instead, for more everyday transactions he uses a debit-card offered by NetSpend Holdings Inc.
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- Media Coverage
- Prepaid Cards Research Project
Which Cost Less: Checking Accounts Or Prepaid Debit Cards?
Unless you’re a whiz at managing your money, a checking account is going to cost you more than a prepaid debit card, a new report concludes. In a new study, the Pew Charitable Trusts looked at 52 prepaid debit cards
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- Media Coverage
- Prepaid Cards Research Project
New York Times: Weighing Prepaid Cards vs. Checking Accounts
Prepaid cards can be a better deal than checking accounts for some people, but the cards need more consumer safeguards, a new report from the Pew Charitable Trusts finds
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