For the past eight years the Payment Cards Center has been expanding its Discussion Paper series, which includes papers based on PCC-sponsored conferences or workshops and original staff research.
Introduced for the first time in August 2009, PCC Note consists of a short article written by Payment Cards Center staff that highlights current topics related to consumer credit and payments. Like the discussion papers, PCC Note was developed to provide timely information to a diverse audience, including professionals, regulators, consumers, and academics.
Industry Specialist Philip Keitel wrote the first PCC Note, "The Credit CARD Act of 2009 and Prepaid Cards."* In this paper, Keitel highlights some provisions of recently enacted federal legislation related to prepaid cards and outlines the debate over whether these cards should be defined as "monetary instruments" under federal law.