June 24, 2017 10:34 AM ET

Consumer Finance

Company Overview of UniRush, LLC

Company Overview

UniRush, LLC, doing business as UniRush Financial Services, provides prepaid Visa debit cards in the United States. Its prepaid debit cards are used to deposit money, withdraw cash, make purchases, shop online, and pay bills. The company was founded in 2003 and is headquartered in Cincinnati, Ohio. As of February 28, 2017, UniRush, LLC operates as a subsidiary of Green Dot Corporation.

10625 Techwoods Circle

Cincinnati, OH 45242

United States

Founded in 2003

Phone:

866-787-4227

Key Executives for UniRush, LLC

Chief Executive Officer
President
Co-Founder
Age: 58
Chief Compliance Officer and General Counsel
Compensation as of Fiscal Year 2016.

UniRush, LLC Key Developments

Consumer Financial Protection Bureau Orders Mastercard and UniRush to Pay $13 Million for Rushcard Breakdowns That Cut Off Consumers' Access to Funds

The Consumer Financial Protection Bureau took action against Mastercard and UniRush for breakdowns that left tens of thousands of economically vulnerable RushCard users unable to access their own money to pay for basic necessities. In October 2015, a rash of preventable failures by Mastercard and UniRush meant that many customers could not use their RushCard to get their paychecks and other direct deposits, take out cash, make purchases, pay bills, or get accurate balance information. UniRush then failed to provide customer service to many consumers who reached out for help during the service breakdown. The CFPB has ordered Mastercard and UniRush to pay an estimated $10 million in restitution to tens of thousands of harmed customers. The CFPB also fined Mastercard and UniRush of $3 million. Mastercard and UniRush's actions before, during, and after the changeover harmed tens of thousands of consumers. The CFPB received about 830 consumer complaints from RushCard users in the weeks that followed the switch in payment processors. By comparison, the CFPB received 147 complaints about prepaid cards from November 2014 to January 2015.

Green Dot Reportedly In Talks To Buy UniRush

Green Dot Corporation (NYSE:GDOT) is in talks to buy UniRush, LLC, according to people familiar with the matter. Green Dot has entered into exclusive negotiations with UniRush after an auction for the company, said the people, who asked not to be identified because the process is private. A deal hasn’t been finalized and the talks could fall apart, they said. UniRush, which is backed by The Carlyle Group LP (NasdaqGS:CG), is worth about $150 million, one of the people said. Representatives for Green Dot, Carlyle and William Blair declined to comment.

UniRush, LLC Presents at PEI Operating Partners Forum: New York, Oct-20-2016 01:00 PM

UniRush, LLC Presents at PEI Operating Partners Forum: New York, Oct-20-2016 01:00 PM. Venue: Convene Conference Center, 730 Third Avenue, The TIAA-CREF building, New York, NY 10017, United States. Speakers: Douglas McGann, President.

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