CFPB's Prepaid Card Plan Needs to Be Tougher, Consumer Groups Say
Consumer groups said that the Consumer Financial Protection Bureau was too soft in its prepaid card plan, arguing that it should have required more on upfront disclosures, banned overdraft charges, and completely severed prepaid cards from being tied to other types of credit.  more »
"The proposed rule doesn't completely ban overdraft features on prepaid cards and that's one place where we will be urging the bureau to go a little bit further," said Lauren Saunders, associate director of the National Consumer Law Center.
Bitcoin adopters in Ohio have been some of the most vocal about how state laws need to evolve to encourage the use of digital currency, but the Ohio government seems to want that change to come from the courts rather than the legislature.  more »
Chip testers FIME and Barnes International have developed a card personalization tool designed to help banks and card manufacturers get MasterCard-branded EMV-chip products to market sooner.  more »

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