Nearly 15 months after tens of thousands of users of the prepaid RushCard were cut off from their funds because of an apparent technical glitch, the company behind the card, UniRush and its payment processor MasterCard have been ordered to pay $13 million in refunds and penalties. [More]
where’s my money
My Bank Overdrafted My Account By Putting Two Holds On One Deposit; Doesn’t Care
By 10.25.16 — Updated: 10.31.16
Imagine that you do everything you can to avoid overdrafting your bank account, only to find that your bank has gone ahead and pushed you into the red — and that it doesn’t really care. [More]
Users Of Walmart’s Prepaid MoneyCard Say They Can’t Access Funds
By 5.19.16
Prepaid credit cards can serve as a lifeline for millions of unbanked Americans in need of an alternative to traditional banking, but they’re only helpful when users can actually get access to their funds. To that end, thousands of consumers who use Walmart-branded prepaid debit cards say they’ve been stranded without their funds for three days. [More]
RushCard To Pay $19M To Customers After Weeks-Long Glitch Last year
By 5.13.16
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]
Illinois Sues Sprint Over $2.7M In Unclaimed Rebates That Belong To Customers
By 3.9.16
What happens to unclaimed rebates when customers don’t, well, claim them? In Illinois, the state treasurer’s office says Sprint owes customers $2.7 million in rebates from 2003 to 2005 that were never claimed, accusing another company of keeping those funds for itself. [More]
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]
State Sues Kickstarter Project That Earned $25K But Failed To Deliver
By 5.2.14
In what is believed to be the first consumer protection action taken by a state involving Kickstarter project, the attorney general for Washington state has filed suit against a company that raised $25,000 on the crowdfunding site but has allegedly failed to deliver anything to its backers or offer refunds. [More]
RadioShack Electronics Trade-In Program Not The Fastest Way To Get Cash
By 5.14.09
A Dallas Morning News blogger decided to test out RadioShack’s new trade-in program, where you mail them your unwanted cellphone, for example, and they mail you a gift card, which you can then turn around and use to buy 7,000 house brand AAA batteries. As you might expect, RadioShack didn’t offer him as much money for his Blackberry Storm as he saw them going for on eBay, but the real problem came from the missed deadlines and delays in getting his gift card: what they said would take one week ended up taking 5 1/2 weeks, and might have taken longer had he not emailed them.
