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Bluebird Gains FDIC Insurance

Skeptics who saw the seeds of an eventual bank charter in the advent of American Express and Walmart had a change of heart and last week and announced that the jointly sponsored Bluebird prepaid card will carry FDIC deposit.

By David Morrison | Updated on April 03, 2013

Skeptics who saw the seeds of an eventual bank charter in the advent of American Express and Walmart had a change of heart and last week and announced that the jointly sponsored Bluebird prepaid card will carry FDIC deposit.

Dan Schulman, group president, enterprise growth at American Express, said, “Bluebird is designed to help make their everyday financial lives easier, more convenient and less expensive. Today’s announcement, which reflects feedback from consumers, advocacy groups and government officials, represents the next set of enhancements that further distinguish Bluebird from other financial services options.”

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