first_imgIn a scene that is increasingly rare when the CFPB starts talking about new rules and regulations, all major parties involved in the conversation seem to be in basic agreement on them. Consumer and industry officials seem to have concluded that the CFPB’s new rules on prepaid cards will likely strengthen the already growing industry.It’s like the bizarro universe version of the payday lending regulations that dropped about a month ago, which also managed to cause an unexpected blooming of consensus.Just probably not for the reasons the regulators who created the rules were hoping for.Everyone agreed — from the team at the Pew Charitable Trusts to the largest payday lender in the nation, Advance America — that the CFPB stepped up to the plate and … whiffed. Specifically, both sides rapidly came to a consensus that the CFPB had successfully created a framework that would both harm consumers and businesses — without offering much in the way of clear benefits to anyone. continue reading » 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more