FlyerTalk Forums - View Single Post - Problem loading Bluebird with Vanilla Visa GC
Old Jun 22, 14, 10:09 am
Join Date: Dec 2013
Location: NYC
Posts: 4,576
Originally Posted by CVG_Kid View Post
Thanks. That's very interesting. I can google but a link would be much appreciated for the discussion.

Not sure. Still reading this as reloadables.

“With respect to general purpose reloadable card activities, the bank shall not establish any new prepaid card program or issue any new prepaid card product, or establish any new distribution channel for existing prepaid card products,” the decree notes. The decree also places similar restrictions on the bank’s future credit card merchant-acquiring activities and the third parties it works with providing those services, including independent sales organizations.

I'm interested in other's thoughts.

According to Bancorp's SEC filing, the FDIC has restricted the bank, until further notice, from issuing nonbenefit reloadable prepaid cards and from any automated clearing house transactions for merchant-related payments.
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