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.


About Author

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for editorial strategy at the American Bankers Association, where she oversees ABA Daily Newsbytes.