* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, September 19, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Congress Bill Spotlight: Make Entertainment Great Again (MEGA) Act, Renaming Kennedy Center to Trump Center – The Fulcrum

    Congress Proposes MEGA Act to Rename Kennedy Center as Trump Center and Revitalize Entertainment

    Massive Attack Say They’ll Remove Music From Spotify – yahoo.com

    Massive Attack Announces Plans to Pull Their Music from Spotify

    REO to return for UI homecoming – The News-Gazette

    REO Gears Up to Ignite the Stage at UI Homecoming Celebration!

    Gen V Season 2: What is The Odessa Project? – yahoo.com

    Gen V Season 2: Unlocking the Secrets of The Odessa Project

    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Gesture-Control Wearables Redefine Human-Technology Interaction – Yahoo Finance

    Gesture-Control Wearables Redefine Human-Technology Interaction – Yahoo Finance

    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    China says US TikTok deal a ‘win-win’, will review app’s technology and IP transfers – Reuters

    China Hails US TikTok Deal as a ‘Win-Win’ While Launching Review of App’s Technology and IP Transfers

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Congress Bill Spotlight: Make Entertainment Great Again (MEGA) Act, Renaming Kennedy Center to Trump Center – The Fulcrum

    Congress Proposes MEGA Act to Rename Kennedy Center as Trump Center and Revitalize Entertainment

    Massive Attack Say They’ll Remove Music From Spotify – yahoo.com

    Massive Attack Announces Plans to Pull Their Music from Spotify

    REO to return for UI homecoming – The News-Gazette

    REO Gears Up to Ignite the Stage at UI Homecoming Celebration!

    Gen V Season 2: What is The Odessa Project? – yahoo.com

    Gen V Season 2: Unlocking the Secrets of The Odessa Project

    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Gesture-Control Wearables Redefine Human-Technology Interaction – Yahoo Finance

    Gesture-Control Wearables Redefine Human-Technology Interaction – Yahoo Finance

    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    China says US TikTok deal a ‘win-win’, will review app’s technology and IP transfers – Reuters

    China Hails US TikTok Deal as a ‘Win-Win’ While Launching Review of App’s Technology and IP Transfers

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Apple and Walmart banking partner Green Dot fined $44 million by the Federal Reserve

July 20, 2024
in Business
Apple and Walmart banking partner Green Dot fined $44 million by the Federal Reserve
Share on FacebookShare on Twitter

Green Dot Bank, the tiny state-charted Utah bank behind financial products at some of America’s largest companies—including Apple and Walmart—today agreed to pay a $44 million fine previously disclosed by the Federal Reserve. Green’s stock fell 5.7% today to $9.26, and is now 85% off the all-time-high of $63.44 it hit October 2020. The fine does not place any restrictions on the bank’s ability to serve its existing clients.

In a statement published this afternoon the Fed said the fine was for “numerous unfair and deceptive practices and a deficient consumer compliance risk management program.” 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.

Specifically, Green Dot failed to adequately disclose the tax refund processing fee for tax preparation services offered on a third party’s website. Green Dot previously announced it had set aside $20 million to help cover the fine. Green Dot CEO George Gresham said in a statement the bank had been working closely with regulators to prepare for the public enforcement action.

“The order relates to practices in place years ago, and we have taken and will continue taking meaningful steps to correct and remediate those issues,” Gresham said in the statement. “Including significant updates to our processes, our product packaging and marketing.”

Fortune previously reported on Green Dot’s work with Apple and Walmart. The bank is part of a recent trend called banking-as-a-service, where chartered banks work with tech companies to help them build services only banks can offer.

Financial analyst Timothy Switzer of financial services broker-dealer Keefe, Bruyette & Woods wrote in an investor note that, while the fine is more than the bank initially set aside, it is below the maximum potential loss of $50 million estimated by the bank’s management. KBF estimates the additional $24 million will reduce earnings per share by between $0.35 and $0.44, depending on tax deductibility, representing a 23% to 30% decline relative to its current estimate.

“Importantly,” Switzer wrote, “the order did not place any restrictions on GDOT’s business operations, as management expected, indicating that the direct financial impact will be limited to investment requirements.”

In addition to the fine, the Federal Reserve Board is requiring that Green Dot hire an independent third-party to strengthen its consumer compliance risk management program, develop an effective anti-money laundering program, and hire an independent third-party to conduct a review of certain transaction activities.

The company’s second quarter earnings results are expected to be published on August 8, and should provide further information.

Recommended Newsletter: CEO Daily provides key context for the news leaders need to know from across the world of business. Every weekday morning, more than 125,000 readers trust CEO Daily for insights about–and from inside–the C-suite. Subscribe Now.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Fortune – https://fortune.com/2024/07/19/apple-and-walmart-banking-partner-green-dot-fined-44-million-by-the-federal-reserve/

Tags: Applebusinesswalmart
Previous Post

Protocol Village: New ‘Smart Accounts’ From Cosmos-Based Osmosis Enable 1-Click Trading

Next Post

Billionaire’s son resolves feud over inheritance

Gesture-Control Wearables Redefine Human-Technology Interaction – Yahoo Finance

Gesture-Control Wearables Redefine Human-Technology Interaction – Yahoo Finance

September 19, 2025
How Taylor Morgan became one of Reno’s most recognizable sports voices – Nevada Sports Net

From Local Roots to Legendary: How Taylor Morgan Became Reno’s Most Recognizable Sports Voice

September 19, 2025
Scientists say they’ve found the world’s oldest mummies, and they’re far from Egypt – NBC News

Scientists say they’ve found the world’s oldest mummies, and they’re far from Egypt – NBC News

September 19, 2025
The growing chasm between MAGA and non-MAGA Republicans on Trump’s economy – Axios

The growing chasm between MAGA and non-MAGA Republicans on Trump’s economy – Axios

September 19, 2025
Congress Bill Spotlight: Make Entertainment Great Again (MEGA) Act, Renaming Kennedy Center to Trump Center – The Fulcrum

Congress Proposes MEGA Act to Rename Kennedy Center as Trump Center and Revitalize Entertainment

September 19, 2025
CHOP researchers unveil framework for boosting children’s oral health – News-Medical

Revolutionary New Framework Set to Transform Children’s Oral Health

September 19, 2025
‘We will not allow politics or outside forces to rewrite the story of Wisconsin’s public schools’: Underly delivers her fifth State of Education Address – Spectrum News

Underly Pledges to Shield Wisconsin’s Public Schools from Political Interference in Impactful Education Speech

September 19, 2025
Simons Collaborations in Ecology and Evolution – Simons Foundation

Innovative Breakthroughs in Ecology and Evolution Through Collaborative Research

September 19, 2025
Michigan Science Center’s vertical wind tunnel demonstration – CBS News

Experience the Thrill of Michigan Science Center’s Vertical Wind Tunnel Demonstration!

September 19, 2025
Roane State and TCAT Knoxville celebrate ‘Countdown to Grand Opening’ for Knox Regional Health Science Education Center – WVLT

Roane State and TCAT Knoxville Kick Off Exciting Countdown to Grand Opening of Knox Regional Health Science Education Center

September 19, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (826)
  • Economy (846)
  • Entertainment (21,725)
  • General (17,120)
  • Health (9,891)
  • Lifestyle (859)
  • News (22,149)
  • People (850)
  • Politics (856)
  • Science (16,056)
  • Sports (21,346)
  • Technology (15,829)
  • World (830)

Recent News

Gesture-Control Wearables Redefine Human-Technology Interaction – Yahoo Finance

Gesture-Control Wearables Redefine Human-Technology Interaction – Yahoo Finance

September 19, 2025
How Taylor Morgan became one of Reno’s most recognizable sports voices – Nevada Sports Net

From Local Roots to Legendary: How Taylor Morgan Became Reno’s Most Recognizable Sports Voice

September 19, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version