Tuesday, June 28, 2016

Green Dot Gets Unwelcome Eye Of Senators After Debit Card Failures

Monrovia-based Green Dot, along with its partners, Walmart and Mastercard, are facing some unwelcome scrutiny from the Senate Banking Committee, after widespread issues last month getting access to money stored on their prepaid Mastercards. According to the NYTimes, the committee is looking into if there needs to be more consumer protections around the debit cards, which have become hugely popular with low income consumers, who do not have checking or savings accounts. Those debits cards are now being used by those users for their day-to-day needs, including paying for utilities, food, rent, and other expenses. Green Dot blamed technical issues for the glitch last month.