{"id":6361,"date":"2016-05-16T11:19:10","date_gmt":"2016-05-16T15:19:10","guid":{"rendered":"http:\/\/blog.lawyer.com\/?p=6361"},"modified":"2020-06-22T13:02:25","modified_gmt":"2020-06-22T17:02:25","slug":"rushcard-proposes-a-settlement","status":"publish","type":"post","link":"https:\/\/blog.lawyer.com\/index.php\/rushcard-proposes-a-settlement\/","title":{"rendered":"RushCard Proposes a Settlement"},"content":{"rendered":"<figure id=\"attachment_8637\" aria-describedby=\"caption-attachment-8637\" style=\"width: 300px\" class=\"wp-caption alignright\"><a href=\"https:\/\/blog.lawyer.com\/wp-content\/uploads\/2016\/05\/avery-evans-RJQE64NmC_o-unsplash.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-8637\" src=\"https:\/\/blog.lawyer.com\/wp-content\/uploads\/2016\/05\/avery-evans-RJQE64NmC_o-unsplash-300x169.jpg\" alt=\"\" width=\"300\" height=\"169\" srcset=\"https:\/\/blog.lawyer.com\/wp-content\/uploads\/2016\/05\/avery-evans-RJQE64NmC_o-unsplash-300x169.jpg 300w, https:\/\/blog.lawyer.com\/wp-content\/uploads\/2016\/05\/avery-evans-RJQE64NmC_o-unsplash-768x432.jpg 768w, https:\/\/blog.lawyer.com\/wp-content\/uploads\/2016\/05\/avery-evans-RJQE64NmC_o-unsplash-1024x576.jpg 1024w, https:\/\/blog.lawyer.com\/wp-content\/uploads\/2016\/05\/avery-evans-RJQE64NmC_o-unsplash-500x281.jpg 500w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-8637\" class=\"wp-caption-text\">Which card to use?<\/figcaption><\/figure>\n<p><span style=\"color: #000000; font-family: Calibri; font-size: medium;\">Hip Hop star, Russell Simmons founded RushCard in 2003 to offer an alternative to high-fee prepaid cards to consumers. Last fall there were thousands of customers who were unable to use their money on the cards due to technical issues when RushCard converted its systems to a different processor. The problems caused an uproar on social media since they were not able to get any answers from the company. This prompted lawmakers and the Consumer Financial Protection Bureau to jump in. <\/span><\/p>\n<p><!--more Read More--><\/p>\n<p><span style=\"color: #000000; font-family: Calibri; font-size: medium;\">Last fall RushCard advised they would set up a $2-$3 million fund to reimburse customers for their losses and inconvenience and this week, almost 6 months after the troubles started to occur. UniRush, the parent company of RushCard agreed to pay $19 million to settle this lawsuit with the affected cardholders. <\/span><\/p>\n<p><span style=\"color: #000000; font-family: Calibri; font-size: medium;\"><a href=\"http:\/\/www.nytimes.com\/2016\/05\/14\/business\/dealbook\/rushcard-to-settle-prepaid-card-suit-for-19-million.html?_r=0\">The settlement<\/a>, plus $1.5 million in lawyer\u2019s fees is still subject to court approval but it does set aside enough to repay customers whose checks bounced or anyone who had to pay late fees since some accounts were unusable for over a week. Rick Savard, the chief executive of UniRush stated \u201cWe are pleased to have reached this preliminary settlement, which will resolve the claims of our cardholders. We believe this settlement fairly compensates our customers who were inconvenienced.\u201d <\/span><\/p>\n<p><span style=\"color: #000000; font-family: Calibri; font-size: medium;\">This settlement will give 300,000 people the chance to recoup $100-$500 for any costs incurred from being locked out of their accounts. <a href=\"https:\/\/www.classaction.com\/\">John Yanchunis<\/a>, the lawyer for the cardholders stated \u201cWe\u2019re very pleased with the result and the speed by which RushCard and the other defendants were able to settle this matter.\u201d<br \/>\n<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hip Hop star, Russell Simmons founded RushCard in 2003 to offer an alternative to high-fee prepaid cards to consumers. Last fall there were thousands of customers who were unable to&#8230;<\/p>\n","protected":false},"author":227,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_s2mail":"yes","footnotes":""},"categories":[3],"tags":[],"class_list":["post-6361","post","type-post","status-publish","format-standard","hentry","category-settlements"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blog.lawyer.com\/index.php\/wp-json\/wp\/v2\/posts\/6361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.lawyer.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lawyer.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lawyer.com\/index.php\/wp-json\/wp\/v2\/users\/227"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lawyer.com\/index.php\/wp-json\/wp\/v2\/comments?post=6361"}],"version-history":[{"count":7,"href":"https:\/\/blog.lawyer.com\/index.php\/wp-json\/wp\/v2\/posts\/6361\/revisions"}],"predecessor-version":[{"id":8638,"href":"https:\/\/blog.lawyer.com\/index.php\/wp-json\/wp\/v2\/posts\/6361\/revisions\/8638"}],"wp:attachment":[{"href":"https:\/\/blog.lawyer.com\/index.php\/wp-json\/wp\/v2\/media?parent=6361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lawyer.com\/index.php\/wp-json\/wp\/v2\/categories?post=6361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lawyer.com\/index.php\/wp-json\/wp\/v2\/tags?post=6361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}