Industry associates tied to prepaid cards want the CFPB to extend the comment time for the proposed rule. The House Financial Services Committee seems to have the same idea.
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Green Dot has credit in its sights. But Wall Street isn't impressed.
A review of the costs of four different prepaid cards that fulfill the niche re-entry market. These cards are given to people at the moment they leave jail or prison.
My reaction's to the CFPB's proposed rule-making on prepaid cards. Bottom line - I think it is a good set of ideas.
Wherein I discuss who the CFPB might design its proposed model disclosure for prepaid cards, how many items they will choose to include in the disclosure, and what elements bear watching for inclusion or exclusion.
The CRA does not fit with the model of a bank that interacts with its customers in a branch-less mode. Here are a few examples of that poor fit.
Regulators appear poised to finally accommodate the branchless distribution network of prepaid cards to the framework of the Community Reinvestment Act.
Block Bank deal put off? Why? Could it be some behind-scenes pressure on the use of refund anticipation checks? Could it be a moment where a regulator asks for a real CRA strategic plan for prepaid card issuers?
My suggestions for the CFPB's new proposed rules on prepaid debit cards. They must decide if they will allow overdraft and/or lines of credit on these accounts. I say "no" to overdraft, and "yes" with strong conditions to credit.
Green Dot says that it will buy Santa Barbara Tax Products Group ("SBTPG") for a mix of cash and stock worth $320 million.