Gurumurthy Leads Fight in Consumer Protection
One issue facing many consumers throughout the Midwest is the danger of prepaid credit cards. While many people are not aware, with a prepaid credit card the holder is vulnerable. One lawyer has started to lead the charge in this field of consumer protection and that man is Ravi Gurumurthy of Cadillac, Michigan.
With around 12 million people across the United States using prepaid credit cards at least once a month, the increased numbers of identity theft have grown dramatically in the last 24 months. A number of changes are supposed to take effect on October 1, 2017 but until then, consumers are quickly falling prey to perpetrators. Gurumurthy has been very successful in protecting the rights of the consumer through diligence and outside-the-box thinking. “The reality is that until the law takes effect, there is almost no protection. If a prepaid card is lost, there is no number to call to stop the charges. In essence, getting your card stolen could mean having the lives of the victim and their family exposed. We need to stop this and the changes presented by the new rules present a heightened layer of protection that has not been seen before.”
The danger of prepaid cards is that they allow users to load on funds through a third party such as a family member or an employer. This presents a number of pros and cons. Ann Arbor attorney Neil Vora spoke of a case that he is working on. Vora said, “My client had her purse stolen and had nowhere to turn. Our firm teamed up with Ravi Gurumurthy and together we came to a positive resolution for our client and restored her life but the law as it sits does not protect the victim. While she was grateful to have the extra credit to improve her quality of life, the whole situation backfired when the wrong person obtained possession of the card.”
Gurumurthy further stated, “I always tell clients to beware of prepaid credit cards. There are a lot of people making money in this industry but the average individual is not aware of the risk. With the new laws, there is going to be more transparency, more openness with what fees are associated with them, what ATM fees would be associated, interest rates and so on. Sometimes what seems to be too good to be true can end up adversely affecting a client for life. We want to stop this chaos before it ever gets to that point.”
With the United States Presidential Election among us and an economy that is far less than stable, Michigan consumers have turned to leaders such as Gurumurthy and Vora for protection. While these men are doing a stellar job in the representation of their clients, until the law changes there is going to be a level of danger presented consumers across the country.
Many people have experienced a high-level of protection thanks to the work on Gurumurthy. To learn more about his firm, visit: /.
Bill Amadeo is a Partner at McManus PLLC in Ann Arbor, Michigan. In addition to his duties at the firm, he is the President and CEO of BAT Tutoring in Lansing, Michigan. Prior to his legal career, Amadeo worked as a professional journalist for over a decade. He can be reached at: [email protected].