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Green Dot Corp., a company that partners with Walmart to sell prepaid debit cards at the retail giant, has been fined $44 million by the Federal Reserve for "numerous" alleged failures that harmed ...
She added Green Dot also informed the BBB about the company's technology-conversion period, during which complaints spiked, last fall. Green Dot may be best known for the reloadable debit card it ...
According to the statement, Green Dot violated consumer law in its marketing, selling, and servicing of prepaid debit card products, and its offering of tax return preparation payment services.
In 2007, Green Dot raised $20 million in funding, [6] including Sequoia Capital as an investor. In 2008, Green Dot ceased to offer prepaid Discover cards. [7] On July 30, 2019, Green Dot launched the Unlimited Cash Back Bank Account, offering 3% cash back as well as a savings account offering 3% interest [8] known as the Unlimited cashback account.
The CFPB releases data on complaints that it receives -- and these are the credit card complaints that keep cropping up.
In 2002, Rite Aid became the first large retailer to sell Green Dot cards. By 2010, over 50,000 retail stores sold Green Dot products. [9] In 2004, Green Dot created the first "cash to debit card reload network," in which any prepaid card issuer could have their customers load money onto their debit card from any Green Dot retailer. [9] [10]
Last summer, Green Dot , purveyor of prepaid debit cards and financial services for the underbanked, suffered a crisis. Second quarter EPS and revenue were lower than expected. The company revised ...
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