The Florida Prepaid Pile-On Continues

by Mercator Advisory Group 0

Another law firm, Hagens Berman, LLP, has announced that it is investigating the prepaid card companies subpoenaed by the Florida Attorney General. The company said it is looking at potential claims against First Data Corp., Green Dot Corp., AccountNow, Inc., NetSpend Holdings, Inc., and Unirush Financial Services, LLC. Hagens Berman is looking at states outside of Florida and instead of representing shareholders, is looking for cardholders.

Hagens Berman is interested in talking to consumers who used a prepaid debit card and feel that the company providing the card failed to disclose hidden fees or otherwise misrepresented the card’s features.

The announcement is another sign that the Florida Attorney General potentially has touched off a series of events that could embroil the prepaid card industry in time consuming battles for years to come.

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