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Prepaid Cards Get Stung by FDIC Brokered Funds Guide
Banks partnering with prepaid card providers face the potential of higher deposit insurance fees and other ramifications from the Federal Deposit Insurance Corp. classifying accounts as "brokered."
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“FICO scores are not what they used to be. In our demographic, they were never good to begin with,” says Green Dot CEO Steve Streit.
Green Dot Corp. plans to start offering credit lines to its customers, a move that likely foreshadows how new regulations will reshape the prepaid card industry. more »
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Green Dot reported a net loss in the fourth quarter as it spent money to diversify beyond its flagship prepaid card business. more »
Antonio Corro, MasterCard's manager for Thailand and Myanmar, is working to expand MasterCard's role by offering new forms of payment in these markets.
MasterCard's Antonio Corro is building a new payments system in Myanmar, a country that's springing to economic life after decades of military turmoil and political unrest. more »
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Mobile payment and commerce provider Mozido LLC is bringing on a former MasterCard executive as its president for global markets. more »
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Howard Schultz, chairman, president and CEO of Starbucks
The Starbucks gift card is the foundation the coffee chain's mobile and rewards strategy, and for good reason. In 2013, one in eight Americans received a Starbucks gift card as a holiday gift. In 2014, it was one in seven. more »
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Lower gas prices are prompting more card spending on restaurants, hotels and other discretionary categories, according to Richard Davis, U.S. Bancorp's chairman, president and CEO. more »
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Citigroup Inc. will exit some businesses within its institutional clients group, including hedge-fund administration and prepaid cards. more »
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Banks in Europe are selling digital gift cards alongside traditional bank accounts, allowing online consumers to buy credit for Facebook, Nintendo, Spotify and other content providers. more »
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