Summary
U.S. Sen. Bob Menendez is making a second attempt to regulate the prepaid credit- and debit-card industry, and to limit hidden fees that he said can steal as much as 20 percent of the value of the cards that have become popular holiday items.
Consumers need to be aware of card companies that "pick their pockets every holiday season and then hide behind the fine print," said Menendez in a press conference Monday at Westfield Garden State Plaza in Paramus. Menendez, D-N.J., on Saturday introduced The Prepaid Card Consumer Protection Act. The bill is similar to one Menendez introduced last year that languished in the Senate.See the full content of this document
Extract
Menendez Targets Fees On Prepaid Cards
Menendez's staff said the senator is hoping to get the proposal referred to the Senate Banking Committee in the next legislative session. Menendez sits on Senate committe...
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