US digital bank Green Dot fires CEO, appoints George Gresham as replacement
Dan Henry has been terminated as CEO and president of the company and resigned from the board as of 14 October.
Green Dot
Green Dot bags Walmart exec as part of bigger strategic overhaul
The firm also appointed a new CEO in March.
P2P Payments Push Forward
In the P2P showdown, who will be left standing? See how early entrants like Venmo and Square Cash stack up against Zelle and Apple.
Are Plastic Cards Headed for Extinction?
Probably not. Even so, the case for virtual prepaid accounts is growing stronger. A journey through the landscape—including a stop at a recent Apple conference—shows why.
UniRush Starts Paying Off for Green Dot in Q1
Green Dot’s acquisition of UniRush, a deal that closed in February, is already paying off for the company. As part of its first-quarter earnings release, Green Dot said that UniRush not only added $12 million in revenue during its first month of new ownership, but contributed to 6 percent growth in the company’s overall active card base, to 5.05 million.
What If You Could Make Prepaid More Profitable?
What does Russell Simmons know that banks don’t? GPR can be profitable. Find out how.
PayPal’s TIO Offer Wins Shareholder Approval
PayPal’s bid to acquire Vancouver-based bill payment specialist TIO Networks has been approved by TIO shareholders, who overwhelmingly voted in favor of the proposed sale at a special meeting this week.
Green Dot Names Board Adviser from Harvest, Repurchases $50 Million in Stock
It was a busy day for Green Dot Corp. The payment services provider, on March 13, named Jeffrey B. Osher, managing director of Harvest Capital Strategies LLC, an “observer” and adviser to Green Dot’s board of directors, and it entered into an agreement with Bank of America Merrill Lynch to purchase $50 million of its Class A common stock as part of its stock buy-back initiative.
CFPB Seeks Help in Tackling Thin-, No-File Challenge
In a Feb. 16 field hearing, the CFPB said it wants industry input on using alternative data to help thin- or no-file consumers build credit scores. It’s a challenge that many in the prepaid industry have been trying to solve for years to better serve cardholders who often are among the approximately 26 million U.S. consumers who don’t have a credit history and another 19 million consumers whose credit histories are insufficient to produce a credit score, according to CFPB estimates.
CFPB Orders UniRush, Mastercard to Pay $13 Million over RushCard Outage
The CFPB is “putting the prepaid industry on notice that companies will face the consequences if consumers are denied access to their money or to the services they pay for and on which they have the right to depend.” In its first enforcement action against prepaid providers, the bureau on Feb. 1 announced that UniRush and Mastercard will pay a combined $13 million for a 2015 service disruption that left cardholders without access to their funds.
Report: Green Dot Wants to Buy UniRush
Green Dot reportedly wants to buy competitor UniRush—a deal that would unite two of the biggest companies in the GPR space and give Green Dot a “foothold” in the payroll card business. The deal, if it comes to fruition, could suggest that the industry, which has been contracting through consolidation for the past several years, isn’t done yet.
