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The Growing Debate Over Prepaid Debit Cards
At an event in Durham, N.C. on Wednesday, Consumer Financial Protection Bureau director Richard Cordray announced that the agency is “decid[ing] how we should go about regulating prepaid cards to better protect consumers and to provide clear rules for prepaid providers.”
The rapidly growing prepaid market is attracting both banks and non-banks, and more Americans, especially those classified as “unbanked” or “underbanked” are using these cards as de facto checking accounts.
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Toyota Prius: Niche Car No More
Drivers around the globe purchased nearly a quarter million Toyota Priuses in the first quarter of 2012. That makes the Prius the world’s third best-selling car—and it firmly establishes the fact that this hybrid is not a fluke or a passing trend.
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