This year's report updates the cost comparison of general purpose reloadable prepaid cards to basic checking accounts as well as cash. The impact of FinReg and Reg E on bank fee income has dramatically changed basic account fee structures resulting in higher costs to the consumer. Scale and competition within the prepaid card industry has lowered prices.
Additionally, we look at financial literacy, credit building and savings features that have emerged in the past year.
____________________________________________________ House - 2009 House Financial Services' Subcommittee on Financial Institutions and Consumer Credit on availability of consumer short-term, low dollar credit.
