PASADENA, Calif.--(BUSINESS WIRE)--Oct. 5, 2016--
Green Dot Corporation (NYSE: GDOT) today comments on the CFPB's newly
released rule for the prepaid debit card industry.
Green Dot’s Founder and Chief Executive Officer Steve Streit commented:
“Green Dot embraces the new rule as recognition that the industry we
started more than 15 years ago continues to serve an increasingly
significant role in the everyday financial lives of a growing number of
American families. We fully support the CFPB's mission to ensure
fairness, integrity and consumer protections for all participants in the
financial system. For many years, Green Dot has voluntarily provided
full checking account style consumer protections for its customers and
has never charged overdraft or penalty fees on Green Dot Bank's prepaid
and checking products. It's gratifying to know that prepaid can now move
to a level playing field that can better serve consumers while allowing
the entire industry to move past the period of regulatory uncertainty.”
About Green Dot
Green Dot Corporation, along with its wholly owned subsidiary bank,
Green Dot Bank, is a pro-consumer financial technology innovator with a
mission to reinvent personal banking for the masses. Green Dot invented
the prepaid debit card industry and is the largest provider of
reloadable prepaid debit cards and cash reload processing services in
the United States. Green Dot is also a leader in mobile technology and
mobile banking with its award-winning GoBank mobile checking account.
Through its wholly owned subsidiary, TPG, Green Dot is additionally the
largest processor of tax refund disbursements in the U.S. Green Dot's
products and services are available to consumers through a large-scale
"branchless bank" distribution network of more than 100,000 U.S.
locations, including retailers, neighborhood financial service center
locations, and tax preparation offices, as well as online, in the
leading app stores and through leading online tax preparation providers.
Green Dot Corporation is headquartered in Pasadena, Calif., with
additional facilities throughout the United States and in Shanghai,
China.
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Source: Green Dot Corporation
Green Dot Corporation
Investors:
626-765-2427
IR@greendot.com
or
Media:
Brian
Ruby, 203-682-8268
PR@greendot.com
