Thanks to the Consumer Financial Protection Bureau (CFPB), thousands of RushCard holders who couldn’t access their money in 2015 will split $10 million in restitution. UniRush and Mastercard, which processed money for the pre-paid RushCard will also pay a $3 million dollar civil fine.
Here’s who gets a refund from RushCard, founded by hiphop mogul Russell Simmons, and how the division of that $10 million shakes out.
- $25 for a cardholder denied a transaction on October 12, 2015.
- $150 to anyone who had their card put in possible fraud status.
- $100 to anyone who received notification falsely that no money was in their account.
- $100 to anyone whose payments didn’t get processed for the week under review.
- $250 to anyone whose direct deposit was improperly returned to the funding source, or improperly recorded.
- $150 to anyone who had trouble with their bank because of delayed processing.
- $150 to anyone who couldn’t access their money.
- $150 to anyone who did not have their lost or stolen card immediately replaced.
- $50 to anyone whose card-to-card transfers did not get processed immediately.
Obviously some people will get multiple refunds because they had multiple problems.
How RushCard holders get their money
UniRush and Mastercard have 60 days to submit a plan to the CFPB for refunding money. Once that’s approved, they must notify you by mail and then send you a refund in the form of a certified bank check.
If you don’t hear from them or have a problem contact the CFPB
Or call 855-411-2372.
The Consumer Financial Protection Bureau does great work, yet the Republicans in Congress and the Trump administration want to roll back the rules it made to protect you.
Call your U.S. senator and representative to tell them you need regulations to protect you.
Here’s where to find your representative: http://www.house.gov/htbin/findrep
Here’s where to find your senator:
Here’s how to contact the White House: https://www.whitehouse.gov/contact#page