Responding to complaints, the Consumer Financial Protection Bureau (CFPB) issued a reminder to employees that they cannot force workers to accept pay on prepaid debit cards. by Shane Tripcony Over the summer the practice of using prepaid debit cards to pay employee salaries garnered a lot of attention, much of it negative. News outlets, The… Continue reading Employers Cannot Mandate Prepaid Cards For Wages
Tag: prepaid debit cards
Celebrity Prepaid Debit Card Smackdown 2013
Nobody would argue that hip-hop impresario Russell Simmons is anything but cool. After all, the guy was one of the forces behind Def Jam, the record label that brought us the Beastie Boys and LL Cool J. These days, Simmons is a business magnate whose net worth is estimated to be north of $300 million.… Continue reading Celebrity Prepaid Debit Card Smackdown 2013
Best Prepaid Debit Cards.com Launches New Infographics Section
Best Prepaid Debit Cards.com recently launched a new infographics section in their Resources & Learning Center category. Our hand-selected or custom-designed infographics are an interesting, educational and entertaining way to pass along consumer personal finance information. We started the section with the first post about the Prepaid Debit Card Market in the U.S. Our first… Continue reading Best Prepaid Debit Cards.com Launches New Infographics Section
Paying to Get Paid: Employee Costs with Employer Prepaid Card Programs
In late June and early July of 2013, thanks largely to a lengthy story in The New York Times, the practice of paying worker wages via a prepaid debit card has come under increased scrutiny. According to the report in the Times – and subsequent coverage in Time Magazine and Businessweek – large employers including Wal-Mart Stores, McDonald’s and Time Warner Cable are eschewing traditional paper paychecks and direct deposit in favor of paying wages on prepaid debit cards.
Getting A Prepaid Card In Your Wallet
Good news: once you actually make a decision to get a particular card, actually obtaining it as a snap. Indeed, most online application forms for the major prepaid debit cards are simple and getting a card on-site at a retailer will require only a few minutes of your time.
Consumers Turning to Prepaid Debit Cards Now More Than Ever
With tighter consumer regulations and the low-interest rate environment, banks have had to find new and innovative ways to make a profit. This led to higher fees and the end of “free checking” in some cases. This move caused many consumers to avoid bank accounts altogether. According to the October 2011 report “Still Risky: Bank… Continue reading Consumers Turning to Prepaid Debit Cards Now More Than Ever