Chicago transit riders lose $16M in transit card refunds

Chicago Transit Authority records show riders have lost a little more than $16 million by failing to register their transit cards.

Chicago transit customers receive a $5 refund for registering their Ventra cards within 90 days of purchase.

The Chicago Tribune reports that CTA passengers have spent more than $24 million on the transit cards since the program's launch in 2013 through July 2017. Only a little more than $8 million has been refunded to customers.

The funds not returned to customers goes to Cubic Transportation Systems, the private San Diego-based company that runs Ventra.

CTA spokeswoman Tammy Chase says the money is put toward making new cards.

The CTA pays Cubic about $3.5 million a month to operate and maintain Chicago's transit payment system.

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