Russell Simmons Responds to Florida Attorney General's Subpoena of RushCard

CINCINNATI, May 19, 2011 /PRNewswire/ -- RushCard today acknowledged that the Florida Attorney General has made a media announcement about issuing subpoenas to prepaid card companies, including RushCard.

RushCard has not yet been served with the subpoena, and therefore will not comment directly on it.

RushCard founder Russell Simmons has issued the following statement:

"I completely welcome any and all debate, discussion and understanding about the best companies in the prepaid debit card industry, which my RushCard company helped found. The RushCard is extremely transparent in terms of the presentation of its fees and its services. All of the information is available for everyone to see on rushcard.com.

"As a leader in this industry, I encourage a full understanding of RushCard's transparent pricing, and valuable services, especially for those who have been turned away or let down by traditional banks. Third party research has shown that for many customers, the best prepaid card services offer significant savings compared to what they would pay in traditional bank checking accounts, with savings of up to 50%, as documented by third party research from the nation's second largest bank by assets, JP Morgan and Company.  

"RushCard is the solution for people who want affordable financial services that they can customize to suit their needs.  As I look at the payments landscape, I see the banks as the large record chains and my RushCard is looking a lot more like iTunes.  I welcome the public debate because the more educated the consumers are the more successful we become."

About UniRush LLC

Headquartered in Cincinnati, UniRush LLC provides members with access to services that enable them to achieve their personal and financial goals.  The RushCard offers the more than 60 million Americans without access to a traditional banking relationship an array of basic financial services via the Prepaid Visa RushCard. Benefits of the program include direct deposit, the ability to withdraw funds at more than 850,000 ATMs globally, the ability to use the card wherever Visa debit cards are accepted, and a suite of health products to help those underserved by the insurance industry. For more information about UniRush and RushCard visit www.rushcard.com.

SOURCE UniRush LLC