Rush Card Under Investigation for Economic Crimes against Consumers

Kevin Adams , Your Black World Reports

The Florida Attorney General’s Office has issued subpoenas against five prepaid debit card companies claiming they may be forcing consumers to pay hidden fees each time they make a purchase.

Subpeonas were issued against five prepaid card companies including the makers of the RushCard, a company owned by Def Jam co-founder and hip hop mogul Russell Simmons. The investigation, which is being overseen by Florida Attorney General Pam Bondi through the Economic Crimes Division, will determine if some of these companies misrepresented their products by promising to improve credit scores.

First Data Corporation, Green Dot Corporation, Account Now, Inc., Netspend Corporation and Simmons’ company, Unirush Financial Services, LLC were all named in a press release issued by the Florida Attorney General’s office last Thursday.

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http://www.mybanktracker.com/bank-news/2011/05/26/florida-attorney-general-issues-subpoenas-russell-simmons-rushcard-prepaid-card-issuers-hidden-fees/

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http://www.facebook.com/people/Shakka-Zulu/1379420279 Shakka Zulu

As if these people don’t already have enough problems with trying to cash their unemployment, child support payments, etc…These Credit card companies prey on these people who are desperate to have their money…I will advise everyone to open an account with a credit union, they usually issue Visa/Mastercard as debit cards which is much more secure…Rush i’m surprise at you with all this Buddism thing you’re into that you would take advantage of the needy…
http://www.madamethejourneyblog.com Paula

Good! These financial vehicles are predatory. Their target consumer is fiscally-illiterate, low-income, with sub par credit. Considering that they don’t have any other options, they flock to these fronting “bank” cards. Cash is King people, don’t pay someone else to spend YOUR money.

Herbcaroll

I totally agree with U Paula, this Simmons guy should be ashamed to support such a bogus and demeaning concept. I get the feeling that he got lucky and gained wealth more so than earning it via strategic economic moves.

Ellie

Fantastic! Several years when this Rushcard was introduced, I sent a $50.00 money order for the “black” card for males (my brother) and $5.00 for the pink card for females (myself). After months of waiting for the black card to be mailed to me, I NEVER RECEIVED IT. Had the post office to search, they found that the MO had been cashed. Russel Simmons & “Rushcard” is a total rip-off, to say the least. After this, I just gave up the $5.00. and never used it. KUDOS TO FLA. ATTORNEY GENERAL!
Anonymous

Banks give you free debit cards. Why would one get one of these that charge you loco fees. Russel better if you had linked up with retail banks like Carver or whatever Chse, soveriegn…anyone, some even give you free money to open an account.