Green Dot Bank, partnered with Walmart, faces proposed consent order from the Federal Reserve for faulty consumer protection and anti-money laundering practices from 2017.

Green Dot Bank, partnering with Walmart for digital banking, received a proposed consent order from the Federal Reserve over faulty consumer protection and anti-money laundering practices. The order, covering activities since 2017, could lead to increased monitoring and enforcement. The bank estimates its liability at up to $50m and intends to work with regulators to ensure customer protection.