Green Dot estimates up to $50M in liabilities over proposed Fed order

Financial technology firm Green Dot Corp. estimated a pending consent order with the Federal Reserve Board will require a payment of between $20 million to $50 million.

The order relates principally to various aspects of “compliance risk management, including consumer compliance and compliance with anti-money laundering regulations,” Green Dot said in a press release Tuesday.

As part of generally accepted accounting principles, the company said it accrued an estimated liability of $20 million related to the proposed consent order, with the “aggregate range of reasonably possible losses … up to $50 million” for the quarter ended Dec. 31, 2023.