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Industry Focus

Financials: Green Dot CEO Steve Streit and 2 Big Financial Headlines

Industry Focus

The Motley Fool

Interview, Money, Consumergoods, Business, Businessnews, Ceo, Technology, Investing, Stocks, Energy, Fool, Financial, Economy, Healthcare, News, Banking, Motley, Tech, Business News, Investments

4.6854 Ratings

🗓️ 5 August 2019

⏱️ 42 minutes

🧾️ Download transcript

Summary

In the latest edition of our Between Two Fools interview series, Fool.com contributor Matt Frankel, CFP sits down for an interview with Steve Streit, founder and CEO of Green Dot Corporation (NYSE: GDOT). Plus, Frankel and host Jason Moser dive intoSquare’s (NYSE: SQ) recent earnings release and the surprise announcement of the sale of its Caviar foodservice platform, and also take a look at Capital One’s (NYSE: COF) data breach and what it could mean for investors. All of this and the stocks we’re watching now in this week’s episode of Industry Focus: Financials.

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Transcript

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0:00.0

Welcome to Industry Focus, the podcast that dives into a different sector of the stock market each day.

0:06.5

It's Monday, August 5th. I'm your host Jason Moser and on today's show we'll take a look at Square's most recent quarter in the market's reaction or overreaction

0:16.9

baby. We'll also examine Capital One's recent data breach and what it means for investors, but we begin this week

0:24.8

with another installment of Between Two Fools. Steve Street is the founder and

0:30.3

CEO of Green Dodd, a financial Technology and Bank Holding Company based in

0:34.7

Pasadena, California. Recently our own Matt Frankel

0:38.3

chatted with Steve about the company's new ultimate cash-back account, what the future holds for Green Dot as well as why he's not

0:45.6

too worried about the tough year Green Dot's stock is having.

0:52.1

All right, I am now being joined by Steve Street, the CEO of Green Dot. And Steve

0:57.6

thanks for taking the time to join us today.

1:00.0

Matt, you and Ben, Glad to be here.

1:03.0

Awesome.

1:04.0

So just to kind of give a little background, some listeners might not be familiar with what you guys do.

1:09.0

There are two sides of your business.

1:11.0

You have kind of what we call non-traditional banking products,

1:14.6

which we'll get to in a little bit. And then you have your banking as a service platform.

1:19.1

So for our listeners who might not know what that means, you might give us just a kind of quick overview

1:23.6

of what Banking as a service is.

1:27.6

You bet.

1:28.6

You know, much like software as a service,

1:30.1

which is where we got the nomenclature for the name from. We provide a technology platform that's

1:38.5

integrated into a bank charter and a program management capability. Those are the three components that are required to execute a banking program.

...

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