The lasting impact of the recession has changed the way Millennials bank. Prepaid cards, which were once advertised to consumers with minimal financial access, are now becoming more attractive to the generation with an aversion to debt. In 2013, 80% of U.S. prepaid card owners were Millennials, likely attracted by the lack of hidden or overdraft fees traditionally seen in banking. The industry, now being taken on by financial brands such as American Express, is expected to generate $317 billion in volume this year. (Business Insider)
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