"Today's announcement [regarding the addition of FDIC insurance, check writing and direct deposit], which reflects feedback from consumers, advocacy groups and government officials, represents the next set of enhancements that further distinguish Bluebird from other financial services options," said Schulman in a prepared statement.It remains unclear whether the CFPB will see the Bluebird enhancements as a positive response to its concerns regarding transparency and safety, or as an attempt to turn the card into something that resembles a checking account -- minus the banking regulations that come with it.
Is That Prepaid Card Actually A Checking Account?
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.