The FTC recently received a court ordered temporary injunction against and the freezing of EDebitPay in regards to business practices related to their prepaid debit cards and short-term loans. My write-up on the situation is bit lengthy based on the current available information, so I’ve posted it on my forum. You can see the full details here. The gist of the allegations is that EdebitPay has been charging people a $159.99 fee for the debit cards without adequate disclosure, any disclosure and sometimes when they weren’t even applying for the prepaid card but a short-term loan. These are very serious allegations and there are some indication it’s also been turned over to the FBI (not surprising considering the allegations involved). If you have had any business dealings with EdebitPay, you probably want (or need) to stay abreast of this case.
