CFPB Denies UniRush’s Petition to Dismiss Investigative Demand
December 14, 2015
Early this month, the CFPB denied a petition made by UniRush, the program manager for RushCard, a prepaid debit card, to modify a civil investigative demand (CID) the firm had received from the bureau near the end of October. The CID seeks documents, written reports and answers to interrogatories in connection with the bureau’s investigation into whether prepaid debit card issuers, processors, card networks, service providers to prepaid debit card issuers, or other unnamed persons “have engaged in or are engaging in unlawful acts and practices in connection with the offering, operating or servicing of prepaid debit cards.” UniRush seemed to shoot itself in the foot, according to the bureau’s decision and order. The CFPB’s account of the chronology suggests ...