Many find them convienent, but there are few rules in place for what users can be charged
Most prepaid card customers are seeking refuge from banks and their high fees, however, prepaid card fees can also add up and consumer advocates are raising concerns and demanding more oversight. CFSI Vice President, Innovation and Research Rachel Schneider noted that for those who are functioning on a break-even basis, even the smallest fees could mean not having enough bus fare. The Consumer Financial Protection Bureau is expected to step up oversight of the industry when it launches in July.
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