Loading...
Loading...
Browse all stories on DeepNewz
VisitWhat will be the outcome of Green Dot Corp.'s risk management overhaul by mid-2025?
Successfully completed with no further issues • 25%
Partially completed with minor issues • 25%
Not completed with ongoing major issues • 25%
Abandoned or significantly delayed • 25%
Federal Reserve reports and Green Dot Corp. official statements
Federal Reserve Fines Green Dot $44 Million for Consumer Law Violations and Risk Management Deficiencies
Jul 19, 2024, 07:12 PM
The Federal Reserve has fined Green Dot Corp. $44 million for numerous violations related to the firm's handling of prepaid debit cards and tax preparation payment services. The Utah-based company, which partners with Walmart to sell these cards, was found to have engaged in unfair and deceptive practices over a period of at least five years. The Federal Reserve cited Green Dot for violating consumer law, blocking access to legitimate accounts receiving unemployment benefits, and lacking proper policies to address these errors. Additionally, the firm was penalized for deficiencies in its marketing and risk management practices.
View original story
Significant positive impact • 25%
Moderate positive impact • 25%
No significant impact • 25%
Negative impact • 25%
Significant improvements, no major fines • 25%
Some improvements, minor fines • 25%
No improvements, major fines • 25%
Other • 25%
Increased portfolio yield • 25%
Decreased portfolio yield • 25%
No change in portfolio yield • 25%
Data not disclosed • 25%
Successful restructuring and exit from Chapter 11 • 25%
Partial restructuring with ongoing Chapter 11 proceedings • 25%
Sale of major assets or brands • 25%
Liquidation • 25%
Implemented all changes • 25%
Implemented some changes • 25%
No changes implemented • 25%
Announced new changes • 25%
Elimination of FDIC • 25%
Significant reduction in FDIC powers • 25%
No major changes • 25%
Other outcomes • 25%
Completed all remedial actions • 25%
Completed some remedial actions • 25%
Failed to complete any remedial actions • 25%
No public information available • 25%
Increased security measures • 25%
Partnership termination with DMM Bitcoin • 25%
No significant changes • 25%
Other • 25%
All resolved favorably for TD Bank • 25%
Some resolved favorably, some not • 25%
All unresolved • 25%
All resolved unfavorably • 25%
Yes • 50%
No • 50%
CEO resignation • 25%
Major overhaul of cybersecurity measures • 25%
No significant changes • 25%
Other • 25%
Significant improvement in financials • 25%
Moderate improvement in financials • 25%
No improvement in financials • 25%
Worsening financials • 25%
No • 50%
Yes • 50%
Increase by more than 20% • 25%
Decrease by more than 20% • 25%
Decrease by less than 20% • 25%
Increase by less than 20% • 25%