Input: Hong Kong protesters wait for midnight deadline - video report
Pro-democracy protesters in Hong Kong wait on the streets for Thursday's midnight deadline set by their leaders for the chief executive, Leung Chun-ying, to resign. Phoebe Greenwood asks them what they think will happen next following the week-long standoff, and about their preparations in case riot police use tear gas and pepper spray
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It's about: Phoebe Greenwood asks pro-democracy protesters in Hong Kong what they think will happen next following the week-long standoff

Q: Russell Simmons creates fund to reimburse RushCard customers

RushCard is creating a “multimillion dollar” fund to compensate customers who were locked out of their accounts by the technical issues that plagued the company earlier this month.

The card created by hip-hop mogul Russell Simmons faced a technical malfunction while it transitioned to a new payment system with MasterCard. Thousands of customers were locked out of their accounts for close to two weeks, and some complained online that they faced late payment penalties, struggled to buy groceries and worried about being evicted.

In an interview with the Associated Press, Simmons said the company would work with customers who faced a financial hardship because of the problem. “This whole situation has been devastating for them, and we want to make sure they are made whole,” he said.

Simmons told the AP that he has been compensating customers out of his own pocket and that the fund would formalize the process. RushCard, MasterCard and MetaBank, the custodian bank for the card, will also contribute to the fund, the AP reported.

RushCard was one of the first prepaid cards to hit the market. He started it, he’s said, because he wanted “to financially empower those families that have been shut out of the economic mainstream.”

The card fiasco drew the attention of consumer groups, including the National Consumer Law Center, which called for greater protections on prepaid cards. The Consumer Financial Protection Bureau said last week it would monitor the situation to make sure all customers were compensated.

Government watchdog to monitor RushCard fiasco

How a hip-hop mogul’s company made a mess of people’s finances

Jonnelle Marte is a reporter covering personal finance. She was previously a writer for MarketWatch and the Wall Street Journal.

A:
The multimillion-dollar fund would compensate customers who faced late fees, lost apartment deposits or other hardships after being locked out of their prepaid card accounts for nearly two weeks.