The FDIC has determined that Achieve has engaged in violations of law and regulation, including engaging in deceptive and unfair acts and practices in or affecting commerce, in violation of Section 5 of the Federal Trade Commission Act (“Section 5”), 15 U.S.C. § 45(a)(1),in the marketing and promotion of the Achieve Card Prepaid MasterCard (“AchieveCard”) to consumers and in procedures for resolving disputed claims in violation of Section 5 and the Treasury Rule, 31 C.F.R. § 210, governing the use of the Automated Clearing House (“ACH”)system to deliver federal benefit payments to prepaid debit cards (“Treasury Rule”).
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