Prepaid Cards

The Consumer Financial Protection Bureau appears to be gearing up to put more controls on bank overdraft fees. The impact of any new overdraft rules on debit cards is unknown but there’s a chance they could prove positive for transaction volume, according to one industry researcher. The CFPB, a creation …

  Prepaid card program manager Green Dot Corp. will take over direct issuance of the Walmart MoneyCard prepaid card from General Electric Co.’s GE Capital Retail Bank under a deal Green Dot announced on Monday. The acquisition continues Pasadena, Calif.-based Green Dot’s effort to consolidate issuance of the prepaid card …

In an action that appears to signal stepped-up scrutiny of non-bank prepaid card distributors by federal banking regulators, the Federal Deposit Insurance Corp. on Friday announced it is fining Achieve Financial Services LLP $110,000 and forcing it to pay at least $1.1 million in restitution to consumers. The FDIC also …

Prepaid card program manager NetSpend Holdings Inc. on Wednesday said it will postpone until June 18 the shareholder meeting it planned for Friday to approve its $1.4 billion sale to processor Total System Services Inc. (TSYS). The delay is an attempt in the wake of two shareholder lawsuits to create …

  If the Federal Trade Commission has its way, all telemarketers will be banned from using remotely created checks and three other payment methods in any transaction. The sweeping ban, which the FTC posted this week in a proposed rulemaking, would also prohibit telemarketers from collecting payment via remotely created …

  Three recent breaches at payment card processors show just how much damage such breaches can do, and provide reminders about how hacked companies do their best to say as little as they can about them publicly. Federal authorities say the latest two breaches, which garnered worldwide headlines in recent …

Often regarded as the enemy, officials from the federal government gave some friendly advice to merchant acquirers last week about what regulators are concerned with regarding payments, including mobile payments, prepaid cards, and fraud control. The recommendations came during a government panel Thursday at the Electronic Transactions Association’s annual conference …

  New competition from national and regional players is helping to moderate prepaid card pricing for consumers, according to a survey released on Monday by Bankrate.com. Indeed, the majority of the 24 cards studied by the North Palm Beach, Fla.-based information service now carry no fees at all for such …

  Aided by an improving economy, credit cards staged a comeback in 2012, edging out debit cards as the key payment option at the retail point of sale, according to a new report from Javelin Strategy & Research. While debit cards held the greatest share of total dollar volume at …

  Fiserv Inc. executives expect the option to guarantee availability of funds loaded onto prepaid cards from a personal or business check using a smart phone to be a huge point of differentiation for Fiserv’s new Prepaid Source Capture service. Launched last week, the Brookfield, Wis.-based processor’s service enables consumers …