Lawmakers Want Answers On Walmart Prepaid Card Glitch That Left Thousands Without Funds

Lawmakers Want Answers On Walmart Prepaid Card Glitch That Left Thousands Without Funds

When a prepared credit card system goes down, millions of unbanked American lose their ability to access funds needed to pay bills, buy groceries, and make other purchases. This scenario was illustrated last month when customers using Walmart-branded Green Dot prepaid debit cards said they had been stranded without their funds for several days, and in some cases weeks. Now, a pair of lawmakers wants to understand the debacle better and work to prevent something similar from happening again.  [More]

Tom Raftery

Twitter Looking Into Rash Of High-Profile Hackings

Days after the king of the modern internet — Facebook founder Mark Zuckerberg — found several of his social media accounts in the hands of hackers, similar attacks have befallen the NFL and other high-profile Twitter accounts, leading the social network to investigate.  [More]

photo: RushCard

RushCard To Pay $19M To Customers After Weeks-Long Glitch Last year

Last October, thousands of unbanked consumers who rely on prepaid RushCards were unable to access their funds because of a technical glitch. After toying with the idea of creating a compensation fund for those customers, RushCard announced Thursday that it will pay at least $19 million to card users affected by the weeks-long outage.  [More]

catastrophegirl

Banks Attract New Customers, New Fee Income With Check-Cashing Services

Instead of imposing new fees on their existing customers, banks have an exciting new idea: attract new customers and charge them fees. Specifically, banks are looking to low-income and lower-middle-income people who might normally use check-cashing stores or check-cashing services in retail stores to gain immediate access to their money. These customers may not make large deposits, but what customers who want access to their cash right away do generate are lots of fees. [More]

RushCard To Create Reimbursement Fund For Customers Unable To Access Money

RushCard To Create Reimbursement Fund For Customers Unable To Access Money

The thousands of unbanked consumers who rely on prepaid RushCards but have been unable to access their funds because of a technical glitch, may receive compensation for the issue.  [More]

photo: RushCard

After RushCard Fiasco, Consumer Advocates Urge More Oversight Of Prepaid Cards

For the better part of two weeks, thousands of unbanked consumers who rely on prepaid RushCards have been unable to access their funds because of a technical glitch. While the company run by Russell Simmons continues to fix the issue, consumer advocates are pointing at the incident as evidence that federal regulators need to do more to protect prepaid cardholders.  [More]

(photo: RushCard)

Technical Glitch Locked Customers Out Of Prepaid RushCard System For The Past Week

While prepaid credit cards can serve as a lifeline for millions of unbanked Americans in need of an alternative to traditional banking, Russell Simmons’ RushCard recently left thousands of consumers stranded without their funds because of a technical glitch.  [More]

Citi To Return Additional $4.5M In Overcharged Fees To 15,000 Investment Account Holders

Citi To Return Additional $4.5M In Overcharged Fees To 15,000 Investment Account Holders

Last October, Citigroup agreed to return a total of $16 million to nearly 30,000 customers after an investigation by the state of New York found the company overcharged some customers advisory fees on their investment accounts. While that redress seems pretty hefty, it wasn’t enough, with the financial institution now agreeing to pay an additional $4.5 million to another 15,000 account holders. [More]

Google Removing Google+ Requirement For YouTube, Other Product Interactions

Google Removing Google+ Requirement For YouTube, Other Product Interactions

Just a week after Google said it would ship its Google+ Photo platform into the ether, the company announced more plans to distance its social network venture from its other products by ditching a requirement that tied user activities to their public profiles. [More]

(Mike Mozart)

Class Action Suit Filed In California Over Wells Fargo’s Alleged Customer Account Abuses

A lawsuit filed earlier this month by the city of Los Angeles accuses Wells Fargo of pushing employees to engage in fraudulent conduct with regard to consumer accounts in order to meet the bank’s sales quotas. Now, one of those customers has filed his own lawsuit against the San Francisco-based bank alleging the same misconduct deceived and defrauded consumers across the country. [More]

(Taber Andrew Bain)

Los Angeles Sues Wells Fargo Over Unfair Customer Account Conduct

The City of Los Angeles has filed a lawsuit against the largest bank based in the state, accusing Wells Fargo of a plethora of unfair practices including encouraging employees to open unauthorized consumer accounts and then charging those accounts phony fees. [More]

(Mike Mozart)

SEC Reportedly Investigating Bank Of America Over Customer-Protection Rule Violations

Financial institutions are required under federal law to follow an array of rules that aim to protect consumers’ accounts. Bank of America may not have followed one of those rules over the course of several years, and now reportedly faces an investigation by the Securities and Exchange Commission. [More]

You Still Shouldn't Keep A Large Balance In Your Skype Account

You Still Shouldn't Keep A Large Balance In Your Skype Account

Manoj has a very important piece of advice for Consumerist readers: don’t carry a large balance in your Skype account. We actually published a post last year entitled, “Here’s Why You Shouldn’t Carry A Large Balance In Your Skype Account,” but it’s an important lesson that bears repeating, like “keep your receipts for major purchases” or “don’t shop at Sears.” [More]

Can I Survive The Wells Fargo Takeover Of Wachovia With My Account Terms Intact?

Can I Survive The Wells Fargo Takeover Of Wachovia With My Account Terms Intact?

Keith has had the same bank account for eight years, but during that time “his” bank has been four different banks thanks to mergers. Ameribank became First Union, which became Wachovia, which in turn was gobbled by Wells Fargo. That’s just how the history of American banking has worked: what’s the big deal? For the first time in all of these mergers, additional fees will be imposed on Keith’s account. He wants to keep things the way they’ve been for the last eight years, and Wells Fargo wants to move on. Well, it wants to move on to taking more money out of Keith’s wallet. [More]

Apple Solves iTunes Account Problem By Locking You Out Of Account

Apple Solves iTunes Account Problem By Locking You Out Of Account

Michael was having a pretty minor problem with playing television programs in iTunes. Sure, it doesn’t even rank as the a serious first world problem, but he contacted Apple to get it resolved, because that’s what Apple is supposed to do. A senior representative tried to resolve the problem by resetting his iTunes password. Nice idea if it had worked. It didn’t. Now this cord-cutter, who uses his Apple TV to catch up with favorite shows, can’t watch those shows at all. Being locked out of his iTunes account and all. [More]

Cosigning Someone's Comcast Account Doesn't Mean Paying Their Bills Instead Of My Own

Cosigning Someone's Comcast Account Doesn't Mean Paying Their Bills Instead Of My Own

Helpful and supportive person that she is, Isis is a co-signer on her goddaughter’s Comcast account so her goddaughter wouldn’t have to pay a deposit. Normally this wouldn’t be a problem unless the youngster defaulted on her payments or ran off with a half-dozen cable boxes. The problem is that the act somehow tied together her account and Isis’s, and a $435 payment was applied to the goddaughter’s account by mistake. This has led to biweekly disconnections, fruitless promises by Comcast employees to take care of the situation, and an existential question: does Isis have two accounts, or only one? [More]