Debit to the Race

Ryan Mack, my fellow contributor to The Black Male Handbook, just called out Russell Simmons for his place in one of the shadier outposts of the financial services industry.

The key point is here:

The pre-paid debit card industry has always been an industry that is built upon a lack of knowledge within the community. It is an industry based upon the legal phrase which demonstrates that "false imprisonment is an intentional tort." In other words, if I put someone in a room and do not lock the door but tell them that the door is locked, they will remain in the room because they believe the door is locked. As a result of my action, I have committed a punishable crime. I view pre-paid debit cards in the same light. Those who know the strategies to empower the community have a moral obligation to those, who may not be as knowledgeable, to fully inform them. There are other more efficient means to empower those in our communities than pre-paid debit cards and other financially destructive establishments such as check cashing facilities. The typical bank offers free debit cards that if used properly do not have any fees affiliated with them and can be used for the same purpose as the pre-paid debit cards.

If we compare the fees affiliated with the Rushcard compared to the typical bank offered debit card, we can clearly see the advantage of the cards offered by the banking institutions. Rushcard vs. Typical Bank Card

Activation Fee: Rushcard = $19.95 Typical Bank Card = Free
Convenience Fee: Rushcard = $1.00 Typical Bank Card = Free
ATM Cash Withdrawal: Rushcard = $1.95 Typical Bank Card = Free (At Branch)
ATM Balance Inquiry: Rushcard = $.50 Typical Bank Card = Free
Bill Payment: Rushcard = $1.00 Typical Bank Card = Free
Inactivity: Rushcard = $2.95 Typical Bank Card = Free
Refund of Rushcard/Bank Card via Check: Rushcard = $5.00 Typical Bank Card = Free

Russell Rush (remember that handle?) is nobody's fool and he probably deserves more credit than he gets for pushing hip hop further down the road of semi-responsibility but this is disturbing. I'm waiting for news that Li'l Wayne and Nelly have collaborated to open a string of check cashing joints on Martin Luther King avenues across the nation.

Comments

[Dianne]

Hi guys. Under democracy one party always devotes its chief energies to trying to prove that the other party is unfit to rule - and both commonly succeed, and are right.
I am from Bhutan and now teach English, please tell me right I wrote the following sentence: "Saturday th november pm flexeril gain weight news rarely has tool designed to consent."

:-D Thanks in advance. Dianne.

[hemiplegia]

I'm waiting for news that Li'l Wayne and Nelly have collaborated to open a string of check cashing joints on Martin Luther King avenues across the nation.

[hiteDuebuit]

Exelent info

Thanks for posting!