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]
Russell Simmons
RushCard To Create Reimbursement Fund For Customers Unable To Access Money
By 10.29.15
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]
After RushCard Fiasco, Consumer Advocates Urge More Oversight Of Prepaid Cards
By 10.26.15
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]
Technical Glitch Locked Customers Out Of Prepaid RushCard System For The Past Week
By 10.19.15
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]
