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Slide #35. Green Dot — Walmart MoneyCard Portfolio from GE Capital Retail Bank
Green Dot (NYSE:GDOT)
Walmart MoneyCard Portfolio from GE Capital Retail Bank
Green Dot Corporation announced that its subsidiary bank, Green Dot Bank, received required regulatory approvals from the Board of Governors of the Federal Reserve System and the Utah Department of Financial Institutions related to the pending acquisition of the legacy Walmart MoneyCard Portfolio from GE Capital Retail Bank. The consummation of the transaction is subject to closing conditions, including, among other things, the Department of Justice's required 15-day waiting period. The transaction is expected to close during the first quarter of 2014.
Green Dot is a financial technology and bank holding company. Through its bank, Co. provides financial products to consumers and businesses including debit, prepaid, checking, credit and payroll cards. Co.'s reportable segments are: Account Services, which provides several deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs; and Processing and Settlement Services, which provides several products and services that engaged in facilitating the movement of funds on behalf of consumers and businesses, referred to as Money Processing and Tax Processing services.
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