Overview

• Green Dot violated consumer law in marketing, selling, and servicing prepaid debit cards and tax services.
• The firm failed to disclose fees adequately and blocked legitimate customer accounts receiving unemployment benefits.
• Green Dot must hire independent third parties to strengthen compliance and review transaction activities.
• The company's stock dropped 5.7% following the announcement, reflecting investor concerns.
• Green Dot's CEO stated that the company has taken steps to address and remediate past issues.