Russell Simmons endorses Clinton, slams Sanders

[Bluenorthwest]

115. Russell got hit with a bad report card on Tuesday from the CFPB

The RushCard Fiasco Exposed The Danger Of Unregulated Banking

"On Tuesday, however, the Consumer Financial Protection Bureau — which is investigating what happened — released a report offering some evidence about how many consumers struggled under the RushCard outage.

CFPB’s latest monthly complaint report looked at complaints sent to the agency between November and January, with a particular focus on prepaid debit cards. It found a 62 percent increase in complaints about these products compared to the same time period a year before, with a total of 238 complaints. That comes on top of the previous complaint report, which found a staggering 233 percent uptick in complaints about prepaid products between October and December, or 459 total. As a press release from the CFPB notes, “The report shows that consumer complaints about prepaid products spiked in recent months as an increased number of customers complained of being frozen out of their accounts.”

And the most recent complaint report makes it clear that RushCard is to blame for that big spike in issues. By far the company that was cited the most was Empowerment Ventures LLC, the parent company of RushCard. There were an average of 241 complaints lodged against the company per month between September and November; the company with the next-highest number of average monthly complaints came in at 19."
http://thinkprogress.org/economy/2016/03/02/3755711/rushcard-cfpb-complaints/

This is happening now, the giant complaint report is current, released Tuesday of this week. Russell has stuff on his mind....
http://ecreditdaily.com/2016/03/consumer-complaints-mount-on-fast-growing-prepaid-card-accounts/