US Consumer Bureau Proposes New Rules for Prepaid Cards

Illustration of green credit card with red ribbon and world map silhouette design isolated on white background done in retro style.

According to an article on moneynews.com, the proposed new rules would require pre-paid card companies to disclose fees and offer protection similar to other institutions.

Consumers use prepaid products to load money into accounts that can be used to make payments or get cash. Some people use the products because they do not have a bank account, while others use them to control their spending.

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