Tuesday, January 31, 2017
Russell Simmons Sells The RushCard
Russell Simmons sells his pre-paid debit card company to Green Dot...
According to reports Russell Simmons just unloaded the RushCard for a whopping $147 million dollars.
The RushCard debuted in 2003 and famously went through a month long shutdown in 2015 cutting users off from their cash after a systems upgrade failed [click here if you missed that].
Green Dot is not liable for any settlements from the crash and an investigation by the Consumer Financial Protection Bureau is ongoing.
Green Dot will retain The RushCard name and its 750k card holders.