PASADENA, Calif.--(BUSINESS WIRE)--Nov. 25, 2013--
Green Dot Corporation announced that its subsidiary bank, Green Dot
Bank, received required regulatory approvals from the Board of Governors
of the Federal Reserve System and the Utah Department of Financial
Institutions related to the pending acquisition of the legacy Walmart
MoneyCard Portfolio from GE Capital Retail Bank. The consummation of the
transaction is subject to closing conditions, including, among other
things, the Department of Justice’s required 15-day waiting period. The
transaction is expected to close during the first quarter of 2014.
Forward-Looking Statements
This press release contains forward-looking statements, which are
subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements include, among other
things, statements of timing of closing and other future events that
involve risks and uncertainties. Actual results may differ materially
from those contained in the forward-looking statements contained in this
press release. The potential risks and uncertainties that could cause
actual results to differ from those projected include, among other
things, the possibility that the transaction does not close or that
prior to the closing of the proposed transaction, the possibility that
the migration of accounts from GE Consumer Retail Bank to Green Dot Bank
does not achieve all regulatory approvals. These and other risks are
discussed in greater detail in the Company's Securities and Exchange
Commission filings, including its most recent annual report on Form 10-K
and quarterly report on Form 10-Q, which are available on the Company's
investor relations website at http://ir.greendot.com/
and on the SEC website at http://www.sec.gov.
All information provided in this release and in the attachments is as of
November 25, 2013, and the Company assumes no obligation to update this
information as a result of future events or developments.
About Green Dot Corporation
Green Dot Corporation is a technology-centric, pro-consumer Bank Holding
Company with a mission to reinvent personal banking for the masses. The
company is the largest provider of prepaid debit card products and
prepaid card reloading services in the United States, as well as a
leader in mobile banking with its GoBank mobile bank account offering.
Green Dot Corporation products are available to consumers at more than
80,000 retailers nationwide, online and via the leading app stores. The
company is headquartered in Pasadena, California with its bank
subsidiary, Green Dot Bank, located in Provo, Utah.
Source: Green Dot Corporation
For Green Dot Corporation
Investor Relations
Christopher
Mammone, 626-765-2427
IR@greendot.com
or
Media
Relations
Brian Ruby, 203-682-8268
brian.ruby@icrinc.com
