Prepaid Debit Card Legal News Articles & Interviews

Atlanta, GA The world of consumer credit finance has exploded in recent years with the advent of prepaid debit cards such as the Green Dot Visa—a market segment known as "the underbanked" that is being courted more and more. Amy Errett, a partner with the venture capital and private equity firm Maveron LLC, writes in the 5/5/10 issue of VentureBeat, "The notion of focusing on underbanked consumers through prepaid debit cards and college students as interesting demographics for massive growth is innovative. The idea didn't come from traditional bankers, but rather from entrepreneurs who identified massive consumer opportunities. There will be more of that and it will happen quickly."

Boise, ID After a meeting with several convenience store owners, Idaho Senator Mike Crapo vowed to look into problems related to fees and charges from the usage of regular and prepaid debit cards.

New York, NY In May Congress passed new legislation that comes into effect this weekend, aimed at ending unfair rate increases and hidden fees associated with prepaid debit cards. "It's still going to be important to watch your statement as closely as possible," says Joe Ridout, spokesman for Consumer Action, an advocacy group, in comments published in the 2/14/10 edition of the Oregonian. But "there will be changes."

Sacramento, CA Consumers who use prepaid debit cards may have spent a lot more money this holiday season than they had originally anticipated. Prepaid debit card fees can add a lot to a person's expenses—some consumers say the fees are too high for what the cards offer.

Provo, UT With Christmas just around the corner, consumers are trying to make their money go as far as possible. However, those who use prepaid debit cards often find that their money goes much faster than expected. Some say they load money onto their cards but are not able to access it; others were unaware of all the fees they would be incurring.

New York, NYPrepaid debit cards may not be the perfect Christmas gift you thought them to be, given that a host of fees can seriously erode the value of the card.

Denver, COPrepaid debit cards offer a handy solution to consumers concerned about using their credit cards online. However, some consumers say the prepaid visa debit card does not work out as well as expected. James S. says he lost $270 because of his Green Dot prepaid card.

Kansas City, MO With the holidays fast approaching, many consumers may be considering gifting prepaid debit cards for the difficult-to-shop-for people on their list - and with the propositions for new regulations in place, patrons may be able to finish their Yule-time shopping with little fear of exorbitant debit card fees.

Buffalo, NY Although prepaid debit cards may seem like a fantastic idea for people with poor credit, consumers are learning that the fees can be exorbitant. Shirley S. says she used a Green Dot debit card for a few months, until she realized she was paying too much in fees and closed the account.

Newark, NJ Prepaid debit cards and the related prepaid debit card fees are akin to "buying a house without getting to look around inside," said New Jersey Senate President Richard Codey (D-Essex). "You have no idea what you're getting into until it's too late."