FinCEN Issues Prepaid Card FAQs

The Financial Crimes Enforcement Network today issued guidance on highlighting the regulatory expectations for nonbank sellers of prepaid cards. The guidance — which addresses frequently asked questions related to non-bank prepaid card offerings — supplements previous guidance issued by FinCEN in 2011.

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About Author

Monica C. Meinert

Monica C. Meinert is deputy editor of the ABA Banking Journal and a senior editor at the American Bankers Association, where she oversees ABA Daily Newsbytes.