![]() ![]() 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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