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The prepaid phone carrier, which is teaming with a mobile banking startup called Wipit, believes that its large retail footprint in low-income neighborhoods offers an opportunity to challenge check cashers and prepaid card issuers.
June 23 -
New York Attorney General Eric Schneiderman on Friday announced his support for a proposal in the state legislature to regulate prepaid debit cards used by employers to pay wages.
June 13
The state of California will no longer be able to deposit child support payments onto prepaid accounts that lack certain consumer protections, under a law signed Wednesday by Gov. Jerry Brown.
The new restrictions will apply to prepaid cards that lack deposit insurance, fail to comply with electronic security standards or charge overdraft fees. Similar requirements currently apply to payments distributed by federal agencies.
The law will take effect on Jan. 1.
