Prepade Debit Card Deception

An FTC Enforcement action alleged consumers had substantial difficulty using debit cards they purchased.  The FTC actions was taken against a company called Netspend and states,    From the perspective of consumers, the whole purpose of prepaid debit cards – their reason for living, if you will – is to give consumers immediate access to their money. Those cards are an especially important financial lifeline for people who don’t have traditional bank accounts. In pitching its reloadable prepaid cards, NetSpend Corporation promised consumers “immediate access” to their funds with “no holds,…

Read More