TSYS Subsidiary NetSpend Settles Federal Trade Commission Charges
Staff Report From Columbus CEO
Monday, April 3rd, 2017
NetSpend Corporation has agreed to settle Federal Trade Commission allegations that the prepaid card company deceived people about access to funds deposited on NetSpend debit cards.
The Commission vote approving the stipulated final order was 2-1, with Acting Chairman Ohlhausen dissenting and issuing a statement. Commissioner McSweeny also issued a statement. On March 31, 2017, the Commission filed a stipulation requesting entry of the order in the United States District Court for the Northern District of Georgia.
