There were added than 650,000 RushCard users at the time of the breakdown, added than 270,000 of whom accustomed their absolute deposits or government allowances on the RushCard.
“The RushCard abortion chock-full bodies from accessing their money to buy aliment and pay rent,” accessory administrator of the National Consumer Law Center Lauren Saunders said in a statement. “The CFPB’s activity will put $10 actor aback in the pockets of alive families disturbing to accomplish ends meet.”
“We accept the analytical role prepaid cards comedy in how bodies administer their money,” said Seth Eisen, chief carnality admiral of alien communications at MasterCard. “Today’s acceding with the CFPB provides RushCard barter abnormally afflicted by the October 2015 accident with an befalling to be added compensated for inconveniences acquired during the account disruption.”
RushCard said in a account that it did not accept to any atrocity in the CPFB adjustment and believes it has absolutely compensated its barter through bags of address credits, a four-month fee-free anniversary and millions of dollars in compensation.
According to the CFPB order, problems arose in October 2015 back UniRush, the affairs administrator of RushCard, switched its acquittal processor to MasterCard Acquittal Transaction Services. Although cardholders were notified of a appointed blackout aeon during the about-face to aftermost for a few hours, abounding were clumsy to use their cards or contrarily ran into account failures for several hours afterwards.
Customers connected to run into issues with the agenda for days, or alike weeks. Some were abominably a that they had abundant beneath or added in their accounts than they absolutely did. Bodies who accomplished out to chump account were additionally met with bare advice from agents, according to the CFPB report.
As allotment of the order, the CFPB has required UniRush and Mastercard to abstract affairs to anticipate these arrangement and account failures from accident again.
This week, Green Dot Corp. appear it was accepting UniRush, which is endemic by music controlling Russell Simmons, for $147 million.
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