The U.S. Treasury Department is set to offer a prepaid debit card for Social Security recipients, and has chosen Dallas-based Comerica Bank as the card issuer, The Wall Street Journal reported on Friday.
The report said the card is targeted at Social Security and Supplemental Security Income recipients who don't have bank accounts, and is also aimed at providing cheaper and more secure payments by shifting away from paper checks.
Comerica Bank is a subsidiary of Comerica Inc.
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