(Adds amount of settlement)
WASHINGTON, March 31 NetSpend Corp, a unit of
Total System Services Inc, has agreed to settle Federal
Trade Commission allegations that the prepaid card company
deceived people about access to funds deposited on NetSpend
debit cards, the FTC said on Friday.
The company has agreed to pay at least $53 million,
consisting of $40 million on deposit in customer accounts and
$13 million to the FTC, according to court documents.
The FTC vote approving the stipulated final order was 2-1,
with acting Chairman Maureen Ohlhausen dissenting, the agency
(Reporting by Eric Beech; Editing by David Alexander)