Fraud Protections for Prepaid Cards Proposed by Consumer Bureau
This article is for subscribers only.
Customers driving growth in the booming prepaid debit card business would get fraud safeguards and free access to account data under rules being proposed by the U.S. Consumer Financial Protection Bureau.
The agency will outline the new protections, which also would require companies to provide clear information about the costs and risks of prepaid products, at a field hearing today in Wilmington, Delaware.