World News #22 – Invisible Poor
“RushCard, according to its website, is a prepaid debit card that lets users get paychecks up to two days in advance….It’s meant to solve the real problems that come with being unbanked or underbanked. In reality, however, it’s a trap. In exchange for early access to their money, users face a web of fees and charges.
….If RushCard were reliable, this might be a fair price for convenience. But it’s not. Beginning last week, thousands of people were locked out of their accounts following an alleged “technology transition” from the company. As Jia Tolentino notes for Jezebel, these are people with no access to cash outside of RushCard. It’s what they use to live their lives.”
– Mother Jones, RushCard Locks Out the Poor From Their Money for Ninth Consecutive Day.
““Russell Simmons has lied to the African-American community for years telling people that RushCard helps you build credit,” Ryan Mack, financial expert and contributor to Financial Juneteenth, a site dedicated to empowering the black community, told TheWrap. “This is a business of greed and exploitation of ignorance.”
Simmons continued his damage control blitz across social media this week, telling cardholders that the RushCard fiasco is fixed.”
– The Wrap, ‘Lies,’ ‘Greed’ at Heart of Russell Simmons’ Debit RushCard Debacle.
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World News is a project by David Bernie that uses the medium of posters that promote issues and stories from around the world.
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