Surprise! Suckers Who Prepaid for Russell Simmons Debit Card Can’t Access Their Money

Posted by on Oct 22, 2015 at 8:08 am
obamasimmons

Good thing for this clown he’s a leftist celebrity who hobnobs with the liberal elite. Otherwise he’d probably be facing jailtime for pulling such a scam.

Russell Simmons has long been famous as a multimillionaire hip-hop music producer. Now he’s known to thousands of fans and followers for something else: His branded prepaid debit card, a financial lifeline for its low-income customers, locked many of them out of their accounts for more than a week.

In a statement on his Facebook page, Simmons attributed the problem, which began Oct. 11, to an upgrade to “a new processing partner” that “did not go as planned.” In compensation, he said his company, UniRush, would waive all fees on the cards from Nov. 1 through the end of February.

But that may not adequately compensate thousands of customers who depended on the card for daily transactions at ATMs and shops. Many have taken to social media to report that they’ve spent a week or longer without access to their money and found it difficult or impossible to reach customer service.

Simmons says on his Facebook page that his company has been “working 24/7” to restore full service to the cards and that most should now be working normally.

The RushCard, which Simmons introduced in 2003, is representative of a lightly regulated corner of the financial services industry that caters to the needy. Customers deposit cash or paychecks or have them direct-deposited by their employers, and then use the cards as conventional debit cards at stores or ATMs. But because they often live paycheck to paycheck, they may not have the resources to tide them over when their RushCard accounts are inaccessible or blocked.

The technical disaster has unfolded largely under the media radar, possibly because members of the card’s customer base live under the media radar.

Or possibly because he’s a liberal celebutard who’s exploiting minorities.

They’ve certainly been outside the customer base of the big banks — typically they’re the “unbanked” or “underbanked,” in industry parlance. Those categories encompass as many as68 million adults, or up to one-third of U.S. households, according to the FDIC. A large proportion are black or Hispanic.

Now these suckers are left without money to pay their bills and aren’t too happy. Maybe they can find some Republicans to blame.







We’re so old we remember this clown protesting the evil 99% during the Occupy Wall Street absurdity.

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