Monday, November 14, 2016

Russell Simmons RushCard Reimbursement Underwhelms


Back in May Russell Simmons set up a $20 million reimbursement fund for Rush Card users who got locked out of their checking accounts for over a week [click here if you missed that].

The checks have started rolling out but some RushCard users are unimpressed...

One disgruntled user uploaded his check online while others complained about the size of their reimbursements.


18 comments:

iketernr said...

Russ is a creep. Lowdown thieving ninja.

Anonymous said...

They'll never get a dime more. Sometimes putting it under your mattress or getting a truly secured CC through a bank or credit union is the best idea. Russell took advantage of poor folks

Anonymous said...

R in NYC says:

Get a real bank account. Fuck that white woman loving, thieving jerk.

Anonymous said...

It probably cost more to print the actual checks than the amount of the checks. I would say get an attorney and get every penny of your money plus pain and suffering. We talking about a "Hip Hop Mogul" here not just a Rapper, he needs to reimburse every cent he took from those people plus some. Russ is a smart man so he knows what he is doing is just trying to pacify the situation instead of taking full responsibility. Could not have been me, it would have been a NEWS conference and some more. I wouldn't care if it was only $1.00 on my card. Good Luck and God Bless to the victims of this blue collar crime that was done against them.

Anonymous said...

Once again, blacks hurting their own people - nasty.

Tippie Toes said...

Terrible I hope this card goes out of business

Busy Bonnie said...

@ 1:43 The banking system are also thieves.

Anonymous said...

Russell Simmons is poverty pimp, I hope folks closed those rush card accounts. Bank with a traditional brick and mortar institution, FDIC protected and insured, if at at all possible.

nodoubt310 said...

The only ones that get rich from these class action lawsuits are the lawyers.

Anonymous said...

Smh my ass would be up in New York, New Jersey, where ever this yoga meditating nigga lives and demand all my cash.

JDent said...

This shit right here is why I hate this bitch negro. He always kissing up to white folks. In interviews he say the same shit over and over.

I knew RC wasn't shit. I never put a red cent in this dude's personal piggy bank.

Anonymous said...

I hate that he got away with these people's money. I will never support this fool.

HHIC said...

Oh yes because banks are so much more reputable. I guess no one saw what Wellsfargo got busted doing this year. Yes I use banks, but out of force. I wish Rus, his card, and those who need them well. You're getting screwed no matter what.

Anonymous said...

I work in maritime lending for a large bank in the Northeast Corridor. The good that can come out of this may be improved financial literacy for the communities affected. That coupled with the public seeing that no "card" (backed by an "FDIC insured" bank or not) is solvent. Ask yourself:

-What happens is there's a glitch that wipes out what you had in your account and you have no receipt to show your true balance? Do you get regular account balances and know your account numbers or at least have them written down somewhere?

-What if there's a financial event or global catastrophe and all banks stop depositors from withdrawing funds? What if there is a "bail-in" like Greece and they use depositors cash to cover their loans? What if you could only take $30 out of the bank per week? Would you and your loved ones be okay?

-Banks are only as solvent as the next day's deposits, which are often only on paper. If Global lending stops/one large bank becomes insolvent, what happens to depositors money?

-If there is a run on the banks, the FDIC insurance is only what they can cover. Remember the fine print says "Up to 250k per depositor per insured bank" but it may take weeks or months to get the money back and "up to" means that they can decide how much you get at that time sort of like why the checks the Rush Card people got were so small. The Insurance company decides how much to give you depending on your deposits

-There is no real guarantee with FDIC Insurance re: "Backed by the full faith and credit of the United States" but what if the US Treasury goes insolvent when China calls in all of the loans it made over the past 15 years?

-Please Google this info because it's mind blowing and as 1:41 said keep some money on hand/under the mattress just in case. Shot out to 3:37pm!

Anonymous said...

Bank at a credit union! but using this bootsy azz credit card is so 1998! grow up and get a real bank account people! I am actually shocked at the number of idiots still using this ghetto card. I still remember the pink Baby Phat one on the commercial.

Anonymous said...

Well, I have never had, nor will I ever own a RushCard I do have another issue with Russ, I ordered HBO specifically for Def Comedy Jam, and that shit was wack as fuck!! I'd like a refund and the hour of my life back I spent watching that shit

chevychick said...

How can one cash a $2.00 check? What does one get back?

Anonymous said...

i know a lot of people have a lot of issues with brick and mortar banks...i did too when i wasn't being careful with my money and watching what was happening with it. my accounts would be overdrawn and i would be mad at the banks for charging me. however, after growing up and seeing that i control my accounts and rather or not it's overdrawn and that if i don't have the money for something i shouldn't be spending it, i realized that banks weren't so bad. there is no reason to give rush card or any of these other prepaid account companies money to use your own money. it's smart to open an account that pays you interest on your money and to have some money on hand. either way, these prepaid debit cards are not a smart financial decision.

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