The Federal Reserve has announced a new debt card overdraft fees rule. This new rule prohibits banks from automatically signing up customers for overdraft protection for transaction involving debt cards or ATMs.

New York, Missouri,Rhode Island and now Michigan have all recently experienced attempts to scam unemployment debit card holders. Scammers are using cell phone calls and text messages are targeting unemployment insurance recipients in order to steal the unsuspecting victim's benefits

Due to complaints from consumers, legislation is in the works to stop banks from continuing their practice of automatically allowing debit card transactions even if the account does not have the money to cover the transaction. As this legislation is being discussed, some banks are announcing future changes to their overdraft protection policies. For many consumers, these overdraft protection changes are too little too late.

The times are tough and unemployment is on the rise; as a result spending tendencies are changing. “Pre-paid” is becoming the new must have selling term as consumers run from idea of a monthly contract. This niche is even affecting credit card companies. As a result the U.S. bank has released the Reliacard Visa.

According to a recent RBI study, people are generally using their debit cards to withdraw cash rather than to make payments directly while buying goods.

India has become the largest market for VISA debit and pre-paid cards in Asia-Pacific with about 3.39 crore card-holders in 2006, accounting for about 34 percent of the company's total customer-base of 10 crore in the region.