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FTC NetSpend Prepaid Debit Card Settlement

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Active: 
Closed
Closed Settlement Statement: 
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.
Settlement Structure: 
Case Summary: 

Thanks to a case brought by the Federal Trade Commission, NetSpend has agreed to provide refunds and settle a case related to NetSpend’s prepaid debit cards.  The plaintiff alleged that NetSpend advertised immediate access to funds, guaranteed approval, and always-available funds, among other benefits, that they did not or could not provide.  Many low-income people use prepaid cards instead of bank accounts, the complaint claims.  Delays and lack of access to funds caused severe hardships, such as evictions, the repossession of cars, and late fees on bills.

Docket Number: 
1:16-cv-04203-AT
Company: 
NetSpend
Class Period: 
Friday, January 1, 2010 to Wednesday, August 31, 2016
Filing Deadline: 
Saturday, October 7, 2017