Attorney General James Secures Over $1 Million from Netspend for Illegal Fees and Misleading Practices
(WNY News Now) The owner of Netspend Corporation, Ouro Global, Inc. (Ouro), and New York Attorney General Letitia James have negotiated a $1 million settlement over dishonest business practices that hurt thousands of New Yorkers.
NEW YORK Yesterday, Attorney General Letitia James of New York obtained more than $1 million and important changes from Ouro Global, Inc. (Ouro), the company that owns Netspend Corporation (Netspend), a supplier of payroll cards and reloadable debit cards. According to an investigation by the Office of the Attorney General (OAG), Netspend hurt tens of thousands of New Yorkers, most of whom were low-income, and broke multiple consumer protection laws. For several years, the business unlawfully closed its clients' accounts and gave their money—which ought to hav...