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Tuesday, July 22, 2014

CFPB Begins Collecting Prepaid Card Complaints

The CFPB announced it will began collecting complaints on prepaid cards, including gift cards, benefit cards and general-purpose reloadable cards. The change comes as the bureau prepares to propose a rule on prepaid cards in the coming months.

Potential subjects of complaints may include problems opening or closing an account, overdrafts and fees, fraud and unauthorized transactions, marketing and rewards features. The bureau also began collecting complaints on several nonbank product and service categories.

Read more.

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