Read more from Florida Attorney General’s official press release:
ORLANDO, Fla.– Attorney General Pam Bondi’s office is investigating five prepaid debit card companies for possible deceptive and unfair practices. The Attorney General’s Economic Crimes Division issued a series of subpoenas regarding possible hidden fees on prepaid debit cards. Some subpoenas also ask for information about possible misrepresentations promising to improve consumers’ credit scores.
“Failing to disclose fees is essentially stealing money from consumers,” said Attorney General Bondi. “We will aggressively investigate these practices and ensure that Floridians are protected from hidden fees and charges.”
Prepaid debit cards work much like traditional, bank-issued debit cards, except they are not associated with a bank account. Instead, consumers purchase a prepaid debit card, often available at grocery or convenience stores, and load funds onto the card. Prepaid debit cards can be used like traditional debit cards to withdraw money from ATMs, buy groceries, pay monthly bills, or shop online.
via @MrDaveyD, MyBankTracker.com
previously:
The Rush Card’s Embarrassingly See Through Attempt To Steal Your Money – Dissected By The NYTimes
