The middle for Responsible Lending is just a research that is non-profit policy organization focused on protecting home-ownership and family members wealth.
Let us start with the premise that is following when it comes to technology and therefore key item expenses, basic function reloadable prepaid cards are indistinguishable from debit cards related to checkless checking records.
Both prepaid and debit cards must keep a database of specific account documents; both access the exact same repayments system via a bank person in a funds transfer network such as for instance Visa or MasterCard.
Both prepaid and debit cards have actually a requirement to “know your consumer” considering that the records must move across a bank to get into the re re payments community. Continue reading