Green Dot 2015 Annual Report Download - page 16

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10
In order to permit the direct deposit of Federal benefits and other Federal funds to our products, we comply with
the requirements of the Electronic Fund Transfer Act of the Federal Reserve Board, or Regulation E, as they relate to
payroll cards, including disclosure of the terms of our electronic fund transfer services to consumers prior to their use
of the service, 21 days' advance notice of material changes, specific error resolution procedures and timetables, and
limits on customer liability for transactions that are not authorized by the consumer.
In December 2014, the Consumer Financial Protection Bureau, or CFPB, issued a notice of proposed rulemaking
requesting comment on proposed amendments to Regulation E, which implements the Electronic Fund Transfer Act,
and Regulation Z, which implements the Truth in Lending Act. The proposed rules seek to, among other things, create
comprehensive consumer protections for prepaid financial products, create a new disclosure regime regarding fees
charged for acquiring and using prepaid cards, and impose new requirements on any credit features associated with
prepaid accounts. If the CFPB's rulemaking or other new regulations or laws result in changes in the way we are
regulated, these regulations could expose us to increased regulatory oversight, more burdensome regulation of our
business, and increased litigation risk, each of which could increase our costs and decrease our operating revenues.
Payment Networks
In order to provide our products and services, we, as well as our subsidiary bank, Green Dot Bank, are contracted
members with Visa and MasterCard and, as a result, are subject to payment network rules that could subject us to a
variety of fines or penalties that may be levied by the payment networks for certain acts or omissions. Visa and
MasterCard set the standards with which we and the card issuing banks must comply.
Employees
As of December 31, 2015, we had 1,012 employees, including 703 in general and administrative, 51 in sales and
marketing, and 258 in research and product development. None of our employees is represented by a labor union or
is covered by a collective bargaining agreement. We have never experienced any employment-related work stoppages
and consider relations with our employees to be good.