Prepaid credit cards rules were introduced this week, banning hidden fees. Here’s what consumers should know about the recent changes.
Last year, there was a big government crackdown on credit card companies in Canada. These rules followed a host of similar rules in the US. It created a new era of more legislation around borrowing in North America, and a real sense that consumers just aren’t doing enough to protect themselves, so governments are stepping in. So what impact are these rules having?