Posts Tagged ‘prepaid’
Aaron Klein: Slow-Clearing Bank Settlements
on Thursday, October 6, 2016Aaron Klein Money Quote saying low-income consumers subsidize wealthy and must pay to use their own money. Aaron Klein said:
Lower-income Americans, who disproportionately use cash, prepaid cards or debit cards, get little to nothing and are in effect subsidizing the wealthy through the payment system. They also deal with a slow clearing and settlement system that causes additional expensive overdraft fees
— Aaron Klein