If you’re a Rush Card member who was affected by the recent computer glitch, you are in luck!
Russell Simmons, the multimedia tycoon who founded the predatory debit card in 2004, has created a fund to pay you back for your losses, the NY daily News reports.
“This whole situation has been devastating for them, and we want to make sure they are made whole,” Simmons told The Associated Press on Thursday.
The technical problem began earlier this month when a switch to a different payer system failed. The outage lasted 10 days, affecting thousands of cardholders.
The glitch prevented low income Rush Card users from accessing their cash to pay their bills and buy necessities. Many Rush Card consumers took to social media to complain that they faced evictions and car repossessions because of the snafu.
Simmons expects donations to the fund to grow into the millions of dollars. A third party will distribute the funds to affected users who documented their losses.
The government will monitor the fund to ensure there are no abuses and that everyone is made whole again.
But Simmons isn’t out of the woods yet. He faces a probe by the Consumer Financial Protection Bureau into Rush Card’s operations and a class action lawsuit filed by 5 Rush Card users.
Thanks to loyal reader Marcella B. for the tip.