New rules crack down on prepaid cards

5 stunning stats about credit cards

Millions of Americans who rely on prepaid cards to make purchases and pay bills are often hit with exorbitant fees and lack the basic protections offered to credit cards holders.

But the Consumer Financial Protection Bureau just laid out new federal protections on prepaid accounts that require clear disclosures, limit fees and interest rates and increase fraud protection.

Let’s block ads! (Why?)

Personal finance news – CNNMoney.com

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