From our president: It's in the cards

Published: March 2014

At first glance, it might seem that there's not much common ground between the 70-something-year-old president (me) of a 70-something-year-old nonprofit (Consumer Reports) and the hip-hop icon, activist, entrepreneur, and founder of Def Jam Recordings (Russell Simmons).

So wrong. When Simmons visited Consumer Reports' Yonkers, N.Y., headquarters in mid-February and we sat down to talk, it was very clear, very fast, that we share a lot of beliefs—most critically, a commitment to protecting consumers.

Simmons is the creator of RushCards, prepaid cards that he launched a decade ago. Many of his friends, he said, "didn't have access to a bank, and they didn't have access to any plastic. My friends carried around cash all the time. This was their first chance to be able to pay their bills online."

Consumer Reports has criticized RushCards in the past for high fees and insufficient protections. Since we first evaluated them, fees have dropped and terms improved. In our latest report, last July, the RushCards rated Good or Very Good—in the midrange of 26 prepaid cards. Simmons said further improvements are in the works.

Simmons was impressed by Consumer Reports as an advocate for consumer rights. "You seem nonthreatening, but you're threatening. You're a bully for the people. You have a million activists who work with you!"

Consumer Reports wouldn't be nearly as successful in raising standards for consumers if we weren't allied with so many dedicated and driven people and organizations that also work relentlessly to do that. A hip-hop pioneer and the not-exactly-hip Consumer Reports agree on a lot, especially that it's only by enlisting consumers' help that the marketplace will be safer and more fair.