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Prepaid debit card fees
Some people are getting into a lot of financial trouble with prepaid debit cards. That's because some of these cards hit you with as many as 15 different fees.
Reloadable prepaid cards work like debit cards, except they don't require a bank account. Users can load money on to them and use them anywhere debit or credit cards are accepted.
A report by Pew Charitable Trusts says a lack of federal regulations on these cards is concerning. The Consumer Financial Protection Bureau has announced it's looking into the prepaid card market. It's considering rules that would force the prepaid card issuers to clarify its fees.
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