Debit Card Companies Agree to Stop Misleading Claims

By: Associated Press Email

Posted: Thu 12:36 PM, Jan 17, 2013

Associated Press Release

TALLAHASSEE, Fla. (AP) -- Five Florida debit card companies have agreed to stop making misleading claims in a first-of-its-kind settlement with the state.

Attorney General Pam Bondi's office announced the agreement Wednesday.

The settlement prohibits the companies from making misleading claims about the ability of prepaid debit cards to build positive credit history.

It also requires them to provide clear and conspicuous notices of fees. They've agreed as well to pay $115,000 to the Central Florida Chapter of Junior Achievement.

The companies are Account Now Inc., First Data Corp., Green Dot Corp., Net Spend Corp. and Unirush LLC.

The settlement followed an investigation that was triggered by consumer complaints.

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