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Federal Reserve Bank Paper on Prepaid Cards and Money Laundering Risks


The Federal Reserve Bank of Atlanta’s Retail Payments Risk Forum recently released a paper on general purpose reloadable (GPR) prepaid cards and money laundering risks.

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Pew Report on General Purpose Reloadable Prepaid Cards


On Wednesday, the Pew Charitable Trusts released a report on general purpose reloadable (GPR) prepaid cards. The Pew report focused on GPR prepaid cards that can be used to make purchases, withdraw money from ATMs, and pay bills for consumers. Pew recommends that the CFPB adopt additional regulatory requirements on GPR prepaid cards.

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Upcoming CUNA Comment Letter to CFPB on Prepaid Cards


Credit Union National Association (CUNA) continues to seek input from credit unions on their regulatory comment call on the Consumer Financial Protection Bureau (CFPB’s) advance notice of proposed rulemaking (ANPR) regarding prepaid cards.  CUNA is also working with the CUNA Payments Policy and Consumer Prote

Posted By Sharon Bahr read more
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