Prepaid card company Green Dot (GDOT) said Friday that it supports Visa's new initiative to simplify fees and disclosures.
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"We believe it's important for the prepaid card industry to provide affordable, fair products with clear and easy to understand fee disclosures," says Steve Streit, Green Dot chief executive, in a June 6 press release.
Green Dot, which faces
The San Francisco-based bank was long hamstrung by a regulatory order that kept it under $1.95 trillion of assets. Now Wells can hit the gas on business lines it had kept idle.
The acting chair argued for a simplified capital hike, criticized past approaches to bank mergers and signaled movement on the FDIC board could be coming soon.
Oxford Bank appears poised to reap benefits from a substantial investment in building out its commercial finance subsidiary. The business, which provides credit to companies that aren't a good fit for bank loans, has moved into the banking mainstream over the last 15 years.
The megabank is also updating certain policies to bar discrimination based on political affiliation. "We appreciate the concerns that are being raised regarding 'fair access' to banking services," a Citigroup executive wrote in an internal memo.
The Swedish buy now/pay later provider and the San Jose, California-based payments system separately launched payment cards in an effort to bring their digital finance offerings to brick-and-mortar stores and compete with established credit card issuers.
Brian Minick, who is in charge of cybersecurity for the bank, shared important cyber insights at an American Banker conference this week.
