Patriot Bank Adds $52M in Debit Cards to Its Portfolio
Stamford-based Patriot Bank has acquired a portfolio of pre-paid debit card deposits, a move that the bank said would increase its net interest margin.
Credit Union Advocacy Groups Want Delay, Relief to CFPB’s Prepaid Accounts Amendments
Two of the country’s major credit union advocacy groups have recently sent letters to the Consumer Financial Protection Bureau, pushing for further delay of the agency’s proposed amendments regarding prepaid accounts.
CFPB Announces New Rules For Prepaid Accounts
The Consumer Financial Protection Bureau (CFPB) today announced finalized federal consumer protections for users of prepaid accounts, including a “know before you owe” disclosure and limits on consumers’ losses in the event that a card is lost or stolen.
