Tag: "American Express"

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CFPB reviewing Pre-paid Cards

CFPB reviewing Pre-paid Cards

Is that prepaid card actually a checking account? Prepaid cards are shaping up to be big business. According to the Consumer Financial Protection Bureau, a 2009 FDIC study found that nearly 10 percent of households use the cards, while the Mercator Advisory Group estimated growth to be 42 percent per year from 2010 to 2014. […]

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Alternative Banking Grows

Alternative Banking Grows – 4/4/13

American Express prepaid debit cards get FDIC insurance American Express announced Tuesday that its prepaid debit cards will now be backed by the Federal Deposit Insurance Corp., the latest indication that a market once shunned by established financial institutions is gaining ground. The use of reloadable prepaid cards has exploded in the wake of the […]