ADVISORY: Experts to Discuss Impacts of March Deadline to Issue Federal Benefits with Pre-paid Cards
March 1, 2013, 12:00pm ET – 1:30pm ET
Washington, DC—In anticipation of the March 2013 deadline when nearly all federal payments, including Social Security, will be made electronically, the Center for American Progress will host a panel discussion on the impact this shift will have on low income Americans. Beginning March 1, 2013, instead of paper checks, most recipients without bank accounts and direct deposit will receive their benefits on a government-issued prepaid card—a change that has the potential to impact individuals’ financial security.
The panel of experts will address why prepaid cards becoming so popular, what potential these cards have to build financial stability as an alternative to bank accounts, and what the dangers are associated with the growing trend of government-issued prepaid cards. The experts will also discuss whether prepaid cards and bank accounts should have common regulations to protect consumers.
Melissa Koide, Deputy Assistant Secretary for Consumer Policy, U.S. Department of Treasury
Jeanne Hogarth, Vice President of Policy, Center for Financial Services Innovation
David Rothstein, Policy Director, Policy Matters Ohio
Joe Valenti, Director of Asset Building, Center for American Progress
March 1, 2013
12:00pm ET – 1:30pm ET
A light lunch will be served at 11:30 a.m.
Center for American Progress
1333 H St. NW, 10th Floor