Changes Coming To Prepaid Card Market

Changes coming to prepaid card market

Federal regulators recently announced new rules governing the prepaid debit card industry. It's a big change more than two years in the making that's expected to bring some basic account protections to its customers, who are often financially disadvantaged. Here are some things you should know: WHAT ARE PREPAID CARDS: Prepaid accounts are among the fastest growing consumer financial products in the United States, according to the Consumer Financial Protection Bureau, which led the change. Sold widely in grocery stores, convenience stores and online, consumers load money onto these cards and use them as they do a debit card, making everyday purchases or to get cash.Read more on NewsOK.com

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