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Pre-paid card markets and regulation

Pre-paid card markets and regulation

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In an effort to understand the legal and regulatory issues facing prepaid cards, the payment card centre at the Federal Reserve Bank of Philadelphia invited Judith Rinearson, chief counsel to American Express' electronic stored-value business, to present a workshop on the topic.

This discussion paper provides highlights from Rinearson's presentation. It analyses the different kinds of pre-paid card products on the market and the federal and state laws that potentially apply to them.

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