FLORIDA A.G. REQUIRES REFORMS IN PREPAID DEBIT CARD INDUSTRY

(The following is a reformatted version of a press release
issued by Florida Attorney General Pam Bondi’s office and
received via e-mail. The release was confirmed by the sender.) 
Jan. 16, 2013 
Attorney General Bondi’s Office Requires Reforms in Florida’s
Prepaid Debit Card Industry 
TALLAHASSEE, Fla. -Attorney General Pam Bondi’s office has
reached first-of-its-kind settlements requiring reforms to the
business practices of five of Florida’s largest prepaid debit
card companies, Account Now, Inc., First Data Corporation, Green
Dot Corporation, Net Spend Corporation, and Unirush, LLC.
Following an investigation based upon concerns that consumers
where not clearly advised of important fees and misled by claims
that using the cards would build positive credit history, the
settlements require the companies to provide clear and
conspicuous notice of fees and prohibits them from making
misleading claims about the ability of prepaid debit cards to
build positive credit history. Additionally, the companies have
agreed to pay $115,000 to the Central Florida Chapter of Junior
Achievement. 
“The reforms we are requiring will protect consumers by
providing them with the information they need in order to make
sound financial decisions, and they establish standard business
practices among Florida’s largest prepaid debit card companies,”
stated Attorney General Pam Bondi. 
The Attorney General’s Office encourages Floridians who believe
they may have been affected by unfair practices when purchasing
and using a prepaid card to contact the Attorney General’s fraud
hotline at 1-866-9-NO-SCAM (1-866-966-7226) or to file a
complaint online at MyFloridaLegal.com. 
The Attorney General’s Consumer Protection Division is the
enforcement authority for all multi-circuit violations of the
Florida Deceptive and Unfair Trade Practices Act. The Division
protects consumers by investigating entities that employ unfair
methods of competition or unconscionable, deceptive and unfair
practices in any trade or commerce. Click here to learn more
about the Attorney General’s Consumer Protection Division. 
Contact:
John Lucas
Phone: 850.245.0150
john.lucas@myfloridalegal.com 
(sgp) NY 
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