Florida officials are investigating Russell Simmons’ “RushCard” along with four other  prepaid debit cards.  The probe is looking into whether they are predatory and misleading. Seems like everyone is offering these cards as a way for people to access funds electronically without an account at a bank or a credit union.

The beef is over hidden fees.  Florida officials say failing to disclose fees is like stealing money from consumers.

Simmons welcomes the probe and is cooperating with authorities.