CFPB Has Just a Few Questions About Prepaid

What's Next In Payments®
4:50 PM EST May 18th, 2012

The Consumer Financial Protection Bureau has scheduled a hearing for May 23 in Durham, N.C. The subject: prepaid cards.

Director Richard Cordray himself will be there, the CFPB says. Testimony will be presented by “consumer and civil rights groups, industry representatives, and members of the public,” at the Durham Convention Center.

The CFPB has had its eye on prepaid for quite some time. A February 2011 Bloomberg report that speculated prepaid debit cards “may be next focus of consumer agency” has turned out to be deadly accurate.

Access the full details behind the CFPB’s hearing here.

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