Prepaid cards get a bit safer
Do you have a prepaid card in your wallet? They're popular
because they're convenient. You, your employer, or someone you know loads money
onto the card, and you use it in a manner similar to a credit or debit card. In
the past, prepaid cards lacked some consumer protections. Now, the Consumer
Financial Protection Bureau has finalized rules that limit your liability for
unauthorized charges to $50, as long as you notify the card issuer promptly.
The new rules also include requirements for clear explanations about fees, and
free access to account information.
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