This has to be the most blatant example of the government not “getting” gift cards and the ridiculous fees they charge. The governments in 30 states are essentially using reloadable gift cards issued by banks such as BofA, Chase, and US Bancorp to pay people their unemployment benefits. The problem is, the cards include all sorts of fees, such as overdraft fees (on a debit card?), and fees to withdraw funds. Don’t state governments have enough clout to issue cards for the UNEMPLOYED that don’t carry fees? (article)
The Governments Bad Banks
February 22, 2009 by Advocate · Leave a Comment
Filed under: Fees & Breakage, Legal & Regulatory, Scams
Filed under: Fees & Breakage, Legal & Regulatory, Scams
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