In this Paybefore.com article, CFSI's Vice President, Policy, Melissa Koide, comments on consumers’ needs for and technological advances in prepaid cards.  Recent remarks from Federal Reserve Board Governor Sarah Bloom Raskin’ and other Fed comments and rules suggest that the Fed recognizes that prepaid cards are an innovative and promising way to expand financial services options for underbanked consumers. But the Fed’s final interchange rule, while likely intended to curtail large banks from engaging in regulatory arbitrage using the prepaid card carve out, will likely have far-reaching consequences, particularly for underbanked consumers.

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Click here to read CFSI's white paper on policy recommendations for prepaid.