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40 U.S. states have ditched paper checks for prepaid cards when issuing unemployment compensation, and now too many unemployed Americans are getting hit with unnecessary and poorly disclosed fees from banks, according to a new National Consumer Law Center report.
So you lost your job in the aftermath of the banking crisis, and now it looks like the bank has been nickel and diming you for using your prepaid unemployment compensation card. A $3.00 fee for calling customer service here, a $5 junk fee there. Talk about adding insult to injury. Too bad you're not too big to fail, right?