-
May 17, 201212:01 pm
by BlackMediaSCOOP
VIEWS: 13444
-
May 17, 201211:49 am
by BlackMediaSCOOP
VIEWS: 28600
-
May 17, 201211:32 am
by BlackMediaSCOOP
VIEWS: 10252
-
May 17, 201210:44 am
by BlackMediaSCOOP
VIEWS: 48194
-
May 17, 20128:48 am
by BlackMediaSCOOP
VIEWS: 31124
-
May 17, 20128:37 am
by BlackMediaSCOOP
VIEWS: 17294
-
May 17, 20128:01 am
by BlackMediaSCOOP
VIEWS: 18447
-
May 17, 20127:51 am
by BlackMediaSCOOP
VIEWS: 10482
-
May 17, 20127:36 am
by BlackMediaSCOOP
VIEWS: 23805
-
May 17, 20127:20 am
by BlackMediaSCOOP
VIEWS: 29948
ATTORNEY GENERAL’S OFFICE GOES AFTER RUSSELL SIMMON’S “PREPAID CARDS”
(blackmediaSCOOP) Florida’s attorney general subpoenaed the prepaid debit card company owned by hip hop mogul Russell Simmons, plus four other large prepaid card companies, on allegations that the companies charge deceptive fees.
“Failing to disclose fees is essentially stealing money from consumers,” Attorney General Pam Bondi said in a press release. “We will aggressively investigate these practices and ensure that Floridians are protected from hidden fees and charges.”
Bondi’s office has received complaints from consumers that prepaid debit card companies hide various fees. Some cards charge a fee every time a consumer makes a purchase, but that fee is not always disclosed up front, according to Bondi’s office.
Some companies, including Simmons’ UniRush, promote their prepaid cards as a way for consumers to improve their credit scores. Bondi will investigate whether these claims are “possible misrepresentations.”
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. 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.
SCOOP SOURCE : ATTORNEY GENERAL OF FLORIDA
|
