NBPCANetwork Branded Prepaid Card Association
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"We are honored to have Commissioner Koskinen speak at the 2016 Power of Prepaid[R] to highlight the important work being done together to combat tax fraud and protect Americans," said Brad Fauss, President and CEO of NBPCA. "We look forward to continuing our collaborative efforts to find creative solutions and implement additional safeguards to protect taxpayers against stolen identity refund fraud."
The NBPCA is a non-profit trade association representing a diverse group of organizations that support network branded prepaid cards and other forms of prepaid access used by consumers, businesses and governments.
NBPCA said it recognizes CFPB's efforts to work with stakeholders during the ongoing rulemaking process but called for additional dialogue to get the final rule right for consumers.
Interim executive director and general counsel of NBPCA Brad Fauss said, "We appreciate the efforts of the CFPB staff to better understand the prepaid market, but we have concerns with several provisions in the proposed rule that we believe will limit consumer access to and choice among prepaid products at a time when consumer demand is at an all-time high.
"There is no doubt that branded gift cards, which can be used at virtually any merchant that accepts the brand, are becoming hugely popular with consumers," comments Marilyn Bochicchio, who serves as NBPCA executive director.