Image

8:48 AM / Monday February 10, 2025

23 Jun 2011

Russell Simmons defends RushCard against hidden fee allegations

  • Facebook
  • Twitter
June 23, 2011 Category: Entertainment Posted by:

eurweb.com

 

The makers of the RushCard, a company owned by Def Jam co-founder and hip hop mogul Russell Simmons, were one of five prepaid debit card companies subpoenaed by the Florida Attorney General’s Office over claims they may be forcing consumers to pay hidden fees each time they make a purchase.

 

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, reports mybanktracker.com.

 

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 in May.

 

Also at that time, Simmons’ company released a statement in response to the subpoena defending the transparency of the RushCard and welcoming all debate and questions.

 

“RushCard is the solution for people who want affordable financial services that they can customize to suit their needs,” Simmons stated. “As I look at the payments landscape, I see the banks as the large record chains and my RushCard is looking a lot more like iTunes. I welcome the public debate because the more educated the consumers are the more successful we become.”

 

More than 60 million Americans currently use the RushCard, which can be used anywhere Visa debit cards are accepted. Its website boasted that RushCard holders would pay no more than $15.90 using its prepaid debit card in comparison to the $40.67 and $41.88 they’d pay on checking account and check cashing store services, respectively.

  • Facebook
  • Twitter

Leave a Comment

Recent News

Color Of Money

Beech stands in the gap during funding crisis supporting non-profits for 35 years

February 9, 2025

Share Tweet Email Derrick Thomas, program manager for the Affordable Housing Centers of PA accepts the grant...

Seniors

How Type 2 inflammation contributes to asthma, COPD, and allergic conditions

February 3, 2025

Share Tweet Email BPT Do you live with persistent, moderate-to-severe asthma, COPD, allergies, eczema or hives? Inflammation...

Home and Garden

PHS Philadelphia Flower Show shares first glimpse of 2025’s ‘Gardens of Tomorrow’

January 20, 2025

Share Tweet Email The Pennsylvania Horticultural Society (PHS) hosted a press conference on January 16 at the...

Week In Review

Auschwitz survivors warn of rising hatred on the 80th anniversary of the death camp’s liberation

February 2, 2025

Share Tweet Email Canadian Holocaust survivor Miriam Ziegler holds up a photo of her (circled) as as...

Sports

The Rematch

January 27, 2025

Share Tweet Email The Philadelphia Eagles are headed to New Orleans for a rematch with the Kansas...

Health

Expert tips from a dietitian: Three keys to staying healthy on GLP-1s

February 3, 2025

Share Tweet Email BPT By Satya Jonnalagadda, PhD, MBA, RDN With obesity rates tripling over the past...

The Philadelphia Sunday Sun Staff