Walmart-linked Green Dot Bank receives proposed Federal Reserve order over allegedly faulty consumer practices

Green Dot Bank, which has ties with Walmart, has recently received a proposed order from the Federal Reserve regarding allegedly flawed consumer practices. Allegedly, these practices could potentially harm consumers and breach related laws and regulations. The action is currently at its proposal stage meaning the bank has the opportunity to respond and challenge the claims. Depending on the outcome, possible consequences may include fines, forced changes to business practices, or both. Green Dot Bank is a prominent pre-paid card provider and also powers the Walmart MoneyCard