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Green Dot Corp.'s fourth-quarter net income rose 76% from a year earlier, to $14.0 million, the prepaid card company said on Thursday evening.
January 26 -
Prepaid card companies have had great success at attracting the underbanked, but their prices remain high compared to banks' — and they might have no choice but to keep them high.
January 25
Green Dot Corp. will introduce a bank account with a traditional debit card attached to it later this year, Steve Streit, the company's chief executive and founder, told American Banker in an interview on Thursday evening.
The Monrovia, Calif., prepaid card company specializes in selling cards that are not linked to traditional bank accounts, which people can use like debit cards. But now it is branching out.
Green Dot is still in the process of talking with its regulators about the bank account, Streit says, declining to say when the company will unveil its new product or to provide further details.
"It's more of a traditional bank account product," he says. "But I don't want to give any" of the details away.
In December, Green Dot
Streit spoke with American Banker after the company
