The Federal Reserve has released a set of frequently asked questions (and answers) about “General-Use Prepaid Cards and Circumvention and Evasion”. Given the Regulation II exemptions for certain reloadable prepaid cards, there seems to be a lot of industry questions about what exactly can be done with a general-use prepaid card and still have the card considered exempt from Regulation II interchange caps.
To see the frequantly asked questions and answers please visit: http://www.federalreserve.gov/paymentsystems/regii_faq.htm
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