Green Dot Corp. faces little financial risk from proposed legislation that would ban certain fees on prepaid cards, according to a stock analyst.
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The Monrovia, Calif., prepaid card company's shares rose 6.6%, to $53.94 on Wednesday, the same day that JPMorgan Chase & Co. analyst Tien-tsin Huang reiterated his "overweight" rating on the company.
Green Dot's "fees are transparent, and we continue to believe the company's fee strategy is aligned with the regulator's intent," Huang wrote in a research note published Wednesday.
