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Stock Market & Financial Investment News

News Breaks
January 16, 2013
13:48 EDTFDC, NTSP, GDOTFlorida AG reaches settlements with prepaid debit card companies
Florida Attorney General Pam Bondiís office announced it has reached settlements requiring reforms to the business practices of five of Florida's prepaid debit card companies, including First Data, Green Dot (GDOT), Net Spend (NTSP). Following an investigation based upon concerns that consumers where not advised of fees and misled by claims that using the cards would build positive credit history, the settlements require the companies to provide notice of fees and prohibits them from making misleading claims about the ability of prepaid debit cards to build positive credit history. Additionally, the companies have agreed to pay $115,000 to the Central Florida Chapter of Junior Achievement. Reference Link
News For GDOT;NTSP;FDC From The Last 14 Days
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November 19, 2014
11:50 EDTGDOTSenate Special Aging Committee to hold a hearing
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07:07 EDTGDOTCitigroup to hold a conference
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November 13, 2014
07:24 EDTGDOTSunTrust to hold a conference
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November 12, 2014
08:19 EDTGDOTJPMorgan to hold a conference
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November 10, 2014
15:17 EDTGDOTCFPB may require added disclosures on prepaid cards, WSJ says
The Consumer Financial Protection Bureau is expected to propose new rules later this week that will require more disclosure for prepaid debit cards and cracking down on allowing consumers to spend more money on the cards than they have, according to The Wall Street Journal, citing people familiar with the matter. The rules come as traditional financial institutions, such as JPMorgan (JPM) and American Express (AXP) have moved into the business and the industryís biggest players donít allow overdrafts so it is unclear whether the new rules will dent industry profits, the report said. Green Dot (GDOT) also does not permit overdrafts and Visa (V) recently excluded overdraft abilities in guidelines for its prepaid cards, the report added. Reference Link
15:07 EDTGDOTRegulators may require added disclosures on prepaid cards, DJ says
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