Government Prepaid Card Complaints Soared in 2020. Here’s Why Updated: Apr 13, 2021, 12:50pm Editorial Note: Forbes may earn a commission on sales made from partner links on this page, but that doesn t affect our editors opinions or evaluations.
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Last year, millions of Americans turned to government aid programs to keep their finances afloat during the coronavirus pandemic. But for some people, this much needed cash came with extra strings attached: a prepaid debit card to access their funds.
The Consumer Financial Protection Bureau (CFPB) received 2,900 complaints about prepaid government benefits cards in 2020, compared to just 600 in 2019. The year prior? Just 300.
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