Innovation

Lanister, FCA argue over debit card operating without permission

November 19, 2020

U.K. consumers are being warned by the Financial Conduct Authority that a debit card from Lanister targeting millennials was operating without permission, according to a report in The Guardian.

The card, which launches in January, allows customers to access all their other cards under one umbrella, according to Lanistar, which selected celebrities Chris Hughes, Tommy Fury, the model Demi Rose and Georgina Rodriguez to promote the card through their social media accounts.

A spokesperson for Lanister told the media outlet that a total of 3,000 social media influencers had been paid to "tap into the Gen Z and millennial market," for the launch.

The FCA issued a warning on its website to potential users stating the firm was not authorized to operate in the U.K.

A Lanistar spokesperson said it was aware of the FCA warning but denied that itwas operating without permission.