HipHopWired Featured Video

No matter what the people are saying to criticize the situation, Russell Simmons is maintaining he has a heavy heart the way things went down regarding his RushCard service last month.

While speaking with HipHopDX’s Justin Hunte, Hip-Hop’s uncle attempted to explain what caused the card members to have their direct deposit funds be frozen for weeks on end.

“It was one of the most devastating times in my adult life. I know how hard people work to get money,” Simmons claimed. “I know how damaging it could be if people were not able to get to their money. It’s true that we built almost a virtual bank. We built a company that people relied on for everything, from automatic bill pay to early direct deposit to transferring money to family members. We know that this was a very big thing. When transferring processors, we had a crash. That crash set off a tsunami, so a lot of things happened as a result of it. We had hundreds of people working on it and it’s just now over the last two weeks back to normal as far as the services we offer. Every single person gets their direct deposit two days early. A lot of the services we had—the card-to-card transfer—all of these things are back in order. Now I have the rebuilding process to restore trust from the community and paying back people who were damaged.”

Simmons also went into great detail on the low profit margin he makes with RushCard and how he adapts to naysayers. Despite the words of good intent, it appears the ordeal hasn’t totally been resolved. One commentator on the article wrote, “My husband’s paycheck was deposited on October 28, 2015 & Rushcard took it! We’ve called, emailed, & even went the social media route to no avail. I understand he feels bad but we feel worse!! My husband gets paid bi-weekly which means from October 14th to November 14th we had NO cashflow!! That’s a freaking MONTH!!! Now tell me who feels worse?? I’ll wait!”

Only time will tell if RushCard holders will ever be appeased, with or without a class action lawsuit. Scroll through the gallery below to see some of the recent comments the people have been directing towards Simmons. It looks like it will still be an uphill battle to win back their approval.

Photo: Brian To/

1 2 3 4 5 6 7Next page »