The Consumer Financial Protection Bureau intends to issue regulations on prepaid cards’ high-priced overdraft loans, so, as usual, it opened up an avenue for public comment. The outcry, however, is far from usual, as more than 500 customers of the prepaid company Netspend — after some prompting from the company — flooded the CFPB with comments. Nearly all pleaded to keep their high-priced loans, often with a tinge of desperation.
Last week’s blog about a local discount gas purchase program that doesn’t offer reloadable gift cards was selected for the Carnival of Personal Finance’s 326th blog carnival.
Canadian Dream, the blog host, recognized the Taking Charge blog for its savings message. Although a Texas grocery store chain is sponsoring a promotion to sell gas for 11 cents less than the market price, the store doesn’t provide reloadable gift cards to use for the purchase. Instead, customers must obtain new cards — and throw the old ones away — each time they exhaust the funds loaded on to a card. We wonder why the cards aren’t reloadable to save the environment.