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Community Development

Prepaid Cards Being Evaluated for Safety

The prepaid card industry is growing fast and not just among underbanked consumers. In an Atlanta Fed Portals and Rails, assistant director of the Retail Payments Risk Forum Cynthia Merritt describes the implications of this growth, particularly as it relates to consumer protections. The blog also highlights the role of the new Consumer Financial Protection Bureau (CFPB) in promoting safety and transparency in the market.