Wednesday, February 01, 2017
RushCard Ordered to Pay $13 Million
Yesterday Green Dot pre-paid debit card announced their acquisition of Russell Simmons' UniRush Company and his pre-paid debit RushCard for $147 million dollars [click here if you missed that].
Today RushCard was ordered to pay $13 million in fines and restitution after a system wide glitch two years ago caused users to lose access to their funds for over a month...
The Consumer Financial Protection Bureau announced on Wednesday that RushCard has been ordered to pay $10 million in restitution to users and $3 million in fines.
On October 15, 2015 Rush Card went off-line for a systems upgrade and stayed off line for over a month [click here and here if you missed that].
Green Dot is not responsible for the RushCard judgment.