12/8/2023 0 Comments Rush cardSpecifically, the complaint alleges that about 1,110 consumers’ accounts were incorrectly suspended for false fraud alerts, and the company delayed crediting cash deposits to other customer accounts or shut off access to certain funds. “RushCard is working around the clock to resolve all of these matters.”Īt the time of the switch, RushCard had about 650,000 active users, of which about 270,000 received direct deposits on their RushCard.Īs a result of the preventable glitch, the CFPB alleges that UniRush did not accurately transfer all accounts to MasterCard, leaving tens of thousands of customers without use their RushCard to get their paychecks and other direct deposits, take out cash, make purchases, pay bills, or get accurate balance information. “During this process, many of our customers were adversely affected when the technology that was used to transition their accounts did not work as planned,” RushCard CEO Rick Savard said in a statement at the time. UniRush described the issues as a disturbance due to a “technical transition.” 11, when customers reported that they were denied access to their funds or had accounts that incorrectly showed a $0 balance. However, something went wrong during the switch and issues with the cards began on Oct. UniRush manages the RushCard, a reloadable prepaid debit card, while credit card network’s MasterCard Transaction Service unit is the current processor for the cards.Īccording to the complaint, MasterCard and UniRush spent 13 months preparing to switch RushCard’s processing system to MasterCard’s processing platform, which ultimately took place Oct. The Consumer Financial Protection Bureau Wednesday announced an enforcement action against MasterCard and UniRush to resolve allegations the companies didn’t take adequate steps to stop the preventable glitch and then failed to provide customer service to account holders during the service breakdown. Nearly 15 months after tens of thousands of users of the prepaid RushCard were cut off from their funds because of an apparent technical glitch, the company behind the card, UniRush and its payment processor MasterCard have been ordered to pay $13 million in refunds and penalties.
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