Discussion Paper

The Credit CARD act of 2009 and prepaid cards

Abstract: Recently enacted federal legislation contains a number of provisions that will affect the prepaid card industry. This note highlights some of these provisions, discusses how they might shape the prepaid card industry, and outlines the debate over whether prepaid cards should be defined as \"monetary instruments\" under federal law.

Keywords: Payment systems; Credit cards; Debit cards; Law and legislation;

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Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Consumer Finance Institute discussion papers

Publication Date: 2009

Number: 09-03