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The U.S. Federal Trade Commission has secured a $53 million settlement in an enforcement action against NetSpend Corporation. The settlement will provide refunds to persons affected by NetSpend’s alleged mishandling of customer funds.
The FTC accused NetSpend of deceiving consumers about the accessibility of funds deposited in NetSpend prepaid debit card accounts. NetSpend allegedly promoted its reloadable prepaid debit cards as a way to store and immediately access funds.
But customers of NetSpend were reportedly not able to access their money as promised. NetSpend allegedly delayed access to funds either by denying or delaying activation of the card or by blocking the customer from using the card. Customers who closed their accounts and asked for refunds did not receive their money for several weeks.
For some customers, this delay in access to funds resulted in severe financial hardships including evictions, repossessions, and late fees on bills, the FTC says.
Under terms of the NetSpend settlement, NetSpend has agreed to create a settlement fund worth $53 million, to be used to reimburse customers who hold covered NetSpend accounts.
The settlement agreement also bars NetSpend from making misrepresentations about the accessibility of customers’ funds.
UPDATE: September 2018, the FTC announced that it will send out another $10 million to consumers from a NetSpend prepaid cards settlement. The additional $10 million comes from refund fees collected by NetSpend debit cards that were not paid out during the consumer redress period, according to the FTC statement.
Who’s Eligible
NetSpend accounts covered by this settlement include “accounts acquired by consumers between January 1, 2010 and August 31, 2016 that: (1) were not activated by August 31, 2016; (2) were loaded with funds; and (3) are not excluded by reason of fraud, prior full refund or credit, return of funds to payment source, escheatment of funds, or similar reason agreed upon by the parties.”
Potential Award
Varies
Proof of Purchase
Claimants should submit information requested in the notice of settlement that they receive via email and/or hard copy.
Claim Form
No Claim Form has been made available. NetSpend was required to provide notice by email or mail no later than June 8, 2017. Claimants can make a claim by responding to that notice.
If you believe you may be qualified but did not receive notice, you can contact the FTC via the settlement website or by sending an email to [email protected].
Claim Form Deadline
10/07/2017 UPDATED
Case Name
Federal Trade Commission v. NetSpend Corp., Case No. 1:16-cv-04203-AT, in the U.S. District Court for the Northern District of Georgia
Settlement Website
Class Counsel
Mark Glassman
Adam M. Wesolowski
Robin L. Rock
FEDERAL TRADE COMMISSION
Defense Counsel
Steven M. Kaufman
Natalie Fleming Nolen
Sarah N. Davis
MORRISON & FORESTER LLP
Michael B. Terry
BONDURANT MIXSON & ELMORE LLP
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136 thoughts onFTC NetSpend Prepaid Cards Settlement
Please return my missing funds from my debit netspend card your crooks not supposed to withhold any my SSI money .direct deposit.i went to social security offices twice my fund are there and your bank STOLD my funds .I want action immediately or actions will be taken as soon as possible. Told me to dispute there holding so I did,and there now stating I lost my case wth is up with this embezzling my social security funds.pay me back and all my money too.thank you a real mad. Women now. I’m broke can’t afford to be put into the street cause your stoldenesse of my direct deposit money SSI. Payment back.
NET SPEND SAYS I owe them $199.00 I do noy owe them anything. I am a senior citizen I don’t have money to give away. If I dix i sould give it to my grabdchilden. I advise to mot use thrm
This is a nitemare dealing with netspend and they stole $210 as a reverse charge from my cash app account. Please get back to me so I can get some legal representation, I am beyond frustrated and agitated in the matter with netsoend
NetSpend is not very good and has been allowing money to get stolen from my card and refused accountability
Netspend suck they put consumer through he’ll blocked there card for. No reason then rob them like they did me when I just explained that was my only income and it came from Social Security they did not care and consumer service is no help and they fraudulent department is fraudulent and no help they will continue to ask for information so they can rob but they will tell you it’s to unblock your card they blocked and they will laugh at you and hang up in your face Netspend had my almost in the hospital from the stress
My name is Kelly Dewees. I have had an acount. With Netspend for yrs. During in which they have held my check. Frozen my account and charged me multiple fees I should not have been charged. For mistakes they made. They also would hold my money for was because I forgot a password or a security question. Most recently. They held my account hostage’s and then closed it and I had to wate 21 days for my disability. This resulted in my electric being turned off and my not having food for 2 wks.
I also been through these kinds of stuff what’s there deal, not supposed to withhold any ones funds at all it is against the law,also deducting for copayments when mine are 0 dollars too. Pay me my money ASAP Stacey montoya
On December 14,2020 I noticed that my NetSpend prepaid debit card account had been robbed a thief had some how got my card number and even without having knowledge of my pen number they somehow stole all of my money out of my account around $16,000 I immediately called NetSpend to file a dispute make them aware of the robbery the representative I spoke with first check my account and told me Mr Dailey is obvious that you have a problem he also told me that there has been numerous transactions of the average of $200 each made through Facebook pay I told him that I’ve never used online anything with my card or number maybe once or twice years prior to this he told me that he was going to put $2,005 dollars back on my account so I wouldn’t be broke for Christmas and then after they do their investigation and find out just how much has been stolen then they would replace the full amount I checked my car to see when the money he told me he would put on my card he arrived 3 days later it still hadn’t been put it on my card I called NetSpend back up again this time I spoke with a female representative for NetSpend I asked her how come the 2005 hadn’t been placed back on my card she told me that I called in and cancel my dispute I told her that I have done no such thing she had me hold on while she checks it out come back on the phone with me and told me that the time and date the call came in canceling my dispute I told the lady representative the time she told me that call came in with almost exactly the time that I was on the phone filing my dispute the representative put me on hold again then she came back on the phone and she told me she checked into the phone call and it was a female that called in and canceled another few I told the representative lady there is nobody else but me authorized to do anything such as that on my account they said they would do their investigation and get back with me you can get the recordings of all the phone calls and say what I’m telling you or what I’m saying is the truth they didn’t inform me that I had to do a police report with County Sheriff’s Department where I live I found that out through a friend of mine that I need to do that so I did that also I didn’t know that I had to be responsible of getting them the police report myself to them my bank I did a police report that Madison County Georgia Sheriff’s Office but I have a copy and NetSpend has a copy I later learned after seeing the copy of all my transactions that have been made in NetSpend with my NetSpend debit card number and it consists of some Western Union transactions that was unauthorized transactions Facebook pay unauthorized transactions Metro mobile unauthorized transaction several more places I can’t remember exactly all of them but I did speak with a retired investigator and he told me after I told him what happened with my card and didn’t know how they gained access to my debit card number or how they knew I was on the phone calling the bank filing my dispute to be able to call my bank and cancel my dispute the retired investigator that I spoke with told me that the bank or the investigators should be able to get this straightened out pretty easily with with the IP number of the phone that was used to make all these unauthorized transactions used to rob my bank account he told me that the IP number on all cell phones are like fingerprints I didn’t know that I’m not a computer person really but anyway the MetaBank NetSpend prepaid debit card account bank still hasn’t refunded me my money not only did I get robbed of all my money off my account NetSpend themselves let an unauthorized person cancel my dispute at the exact same time that I what’s on my phone filing my dispute with my bank now it’s been all this time past that I’ve been without my money on account of NetSpend I even found out the name of the bank robber that robbed me name and who they was Kara Moore and Otis Epps and like 3or4 more names! I also found out information on Kara Moore I was told that she was out of prison on similar charges on parole around the time that she robbed my bank account and that she is now back in prison on a violation for parole and a new charge. Fraudulent very similar to mine a Clark County Georgia man she robbed his bank account of around $15,000 and was charged with that and was placed back in prison in the Georgia Department of Corrections! With all that being said I still haven’t received my refund of my money that was robbed out of my bank account I need help with my case NetSpend who calls me a lot of grief turmoil breakups and relationships I lost my place to live I lost my vehicle on the count of MetaBank NetSpend prepaid debit card account neglect.
I am looking for a couple of lawyers to help me go against meta / Facebook after their last settlement I did not accept the settlement because I have got so much proof and evidence on what they have done to me and so many others for privacy and Shadow banning and Aladdin law officials come in and do whatever they want and letting other people make false accounts against me and make accounts to make money off of my name and they’re still Shadow banning me and all I’m doing is telling what’s happened to me and it’s been a lot so much Injustice I need some help I have a case I know guarantee 100% hands down to win guarantee even the Lord above told me is guaranteed it’s going to happen I just need some good lawyers to help me they’re keeping me from Instagram YouTube I can’t show any of my comments don’t show I can’t even get into Instagram onion so many different social medias but me the original person of the name is being blocked from everything and really taking advantage of and stolen from and lied to and people are coming after me because of what these people are doing and they try to several attempts in my life I need help I promise you 100% this case will win no doubt no doubt and I’m a true speaker I am a truth teller
I need to file in them.please they have taken so much money from me and I have 200 they have had since may can’t use card won’t activate it unless I give them 180.00