The Consumer Financial Protection Bureau has released its monthly complaint snapshot, this one highlighting consumer complaints about prepaid products. The report shows that consumers continue to experience issues trying to manage their accounts and access funds. The report also highlights trends seen in complaints coming from North Carolina.
Regarding prepaid cards, common complaints included unauthorized transactions, difficulty registering and using cards, and delays and difficulties getting the company to help resolve problems. The CFPB received the most complaints about the prepaid cards of American Express, PayPal Holdings, Inc., and NetSpend Corporation.
The CFPB's press release is here. The monthly report is here.
