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prepaid cards

October 5, 2016

The rule means that people using prepaid debit cards actually have accounts with more protections than do those who use a traditional checking account. But it would have been better if the CFPB had stepped up to stop overdraft. But even so, they did call for a better version of overdraft: it overdraft as credit. Also, the rule calls for a 30-day waiting period after account opening before an issuer or program manager can solicit the customer to sign up for overdraft.

May 23, 2016

Harvest may have the new Directors at Green Dot that it wanted, but it won't be able to push overdraft against the wishes of the CFPB and Walmart.

February 25, 2016

It seems to be the case that Green Dot is going to put Harvest Capital's plan into its playbook.

January 26, 2016

Harvest Capital's critique doesn't add up.

October 26, 2015

As of 61 minutes ago, Rush says that all of its systems are back up and fully functional. So what happens next? Will consumers keep using their RushCards?

October 21, 2015

RushCard's technical problems are the product of an honest mistake. The company was switching to a new payment processor over a holiday weekend. But many people were put in very difficult circumstances when they could not access their paychecks. What does this say about management at Rush, about the image of the prepaid card, and what could it mean for changes in arbitration rules?

March 24, 2015

An short summary of my comments to the CFPB on the proposed prepaid card rulemaking. My full statement is available here.

February 17, 2015

Is someone soliciting holders of prepaid cards to make comment in favor of overdraft to the CFPB?

February 6, 2015

People ask me all the time "what's a good prepaid card?" In my opinion, these are the best offerings out there right now.