Russell Simmons hit with class action lawsuit for fraud.
A new class action lawsuit is accusing Russell Simmons of fraud after the RushCard fiasco that left thousands without access to their money for over a week.
RushCard customers were left suffering after an upgrade to improve the pre-paid debit card service hit a major technical glitch leaving many customers with frozen accounts, incorrect account balances, and missing direct deposits.
Russell apologized profusely while providing around-the-clock updates to customers until the issue was resolved.
In the process of upgrading and improving our RushCard services, may of you were hurt by problems that occurred during the technology transition. We know who you are and I know you are facing tremendous challenges. I want to personally reassure you that your funds are safe and that we are addressing every issue as quickly as possible.
Once the RushCard accounts were restored, Russell Simmons announced a Fee Holiday Season where cardholders would not be charged any monthly fees, transaction fees, or ATM fees from November 1, 2015 to February 29, 2016 as restitution for the unfortunate service failure.