Mark Feldman's questions to GREEN DOT (GDOT) leadership • Q4 2024
Question
Asked for more details on the 'blocked accounts' mentioned in the prepared remarks and for an update on the company's view of the regulatory environment for both consumer and BaaS businesses.
Answer
The blocked accounts were mainly in the direct-to-consumer channel and are shut down quickly, having a neutral P&L impact. Regarding regulation, the company's primary regulator is the Federal Reserve, and they do not expect their relationship or compliance investment strategy to change meaningfully, as their focus on protecting depositors aligns with regulatory interests.