CFPB penalties and fees Bank card and you will Russell Simmons’ prepaid card providers
Russell Simmons is the co-maker regarding UniRush.
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The user Economic Cover Agency with the Wednesday established it has got fined the fresh percentage people Credit card MA, -0.40% and you may UniRush – whoever co-maker is actually business person Russell Simmons – to have “breakdowns” into the reloadable prepaid “RushCards” you to definitely leftover their clients struggling to supply their funds.
The difficulties having customers took place inside the , whenever UniRush come to play with Credit card as its the commission chip. On account of some “avoidable disappointments” in that key, 1000s of consumers was in fact adversely affected, the latest CFPB told you from inside the an announcement, causing in the 830 consumer grievances out of RushCard pages into agencies.
“The RushCard fiasco prevented people from opening their cash to invest in as well as pay rent,” Lauren Saunders, this new user director of your own nonprofit National Consumer Rules Cardio, said for the a statement. Leia mais →