Is Prepaid the Future of Plastic? Fee-Hungry Banks Hope So
Filed under: Banking, Consumer Ally, Credit Cards
This time last year, several large banks announced they were adding debit-card fees to non-ATM transactions at retailers. This was to make up for the revenue they were losing thanks to a financial reform law that capped how much they could charge merchants.
The moves did not go unnoticed: The banks that proposed such fees — Bank of America (BAC), JPMorgan (JPM) Chase, Wells Fargo (WFC) and others — suffered wide-scale, high-profile backlashes, and ultimately rolled back the programs.
But…
Is Prepaid the Future of Plastic? Fee-Hungry Banks Hope So originally appeared on DailyFinance.com on 2012-10-18T10:49:00Z.
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