Several organizations have weighed in on the CFPB's proposed changes to prepaid card governance.
The CFPB proposes new disclosure requirements but stops short of mandating deposit insurance.
Two long-term opponents of payday lending said that nine federal credit unions in five states continue to offer members payday loans with triple-digit interest rates.
The National Consumer Law Center has issued a report that is critical of the fees many unemployed people have to pay because their states put unemployment benefits on cards.
The National Consumer Law Center has charged that certain credit union payday loan alternative products are little more than payday loans sold under a credit union label.
Some credit unions are still making small value, short term loans that they say are not payday loans, but really they still are, according to a report developed by the National Consumer Law Center.