![]() However, the Credit Card Accountability Responsibility and Disclosure Act of 2009 obliged Treasury to write anti-money laundering rules for the prepaid industry. The cards, which include so-called "network-branded" cards that carry a Visa Inc V.N or MasterCard MA.N logo, can be loaded with cash at banks8, kiosks, check-cashing stores and other retail outlets. The Treasury Department had hesitated to tightly regulate the fledgling industry to avoid stifling its growth. The prepaid, or “stored-value,” card industry emerged a decade ago and has grown into a multibillion dollar business primarily by serving millions of Americans who do not use traditional bank accounts. senators presses for quick action and strong controls. ![]() ![]() Treasury Department is struggling to write anti-money laundering rules for the prepaid money-card industry, which is resisting more regulation while a group of U.S. (Fixes formatting in 22nd paragraph to restore dropped words) ![]()
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