Green Dot Predatory Practices Covered Up by CommerceOne Redacted Answers So FOIA

Green Dot Predatory Practices Covered Up by CommerceOne Redacted Answers So FOIA by Matthew Russell Lee, Patreon Book Substack SOUTH BRONX/SDNY, May 17 – Green Dot Bank, the subject of extensive consumer complaints, proposes to split itself with its bank going with CommerceOne and its fintech business to (related) Smith Ventures.  Fair Finance Watch has filed opposition to the Federal Reserve.   "This is early opposition to the application of Compass Sub Northwest, Inc., Birmingham, Alabama "and others" to become a bank holding company by acquiring Green Dot Corporation, and thereby indirectly acquiring Green Dot Bank, both of Provo, Utah "and more." ... CommerceOne is a HMDA reporter - and lending only to whites, not to any African American...     There are extensive consumer complaints against the applicant(s) here; the FRB has taken the problematic position that even the CFPB complaint database is not "substantive." FFW objects, and requests a hearing. Ten days later, Sullivan & Cromwell submitted an entirely dismissive response, to which FFW immediately replied, with 2025 HMDA data and more - including S&C being slammed for misusing AI in court. And on May 7, the Fed asked CommerceOne / Compass Sub North questions, including "Describe specific actions New CommerceOne would take to strengthen and enhance Green Dot Bank’s complaints management program and to reduce the number of customer complaints the bank receives. Describe any new systems, additional staffing, and new operations New CommerceOne would implement at Green Dot Bank to strengthen and enhance its complaints management program. 6. Provide a detailed timeline New CommerceOne would expect Green Dot Bank to address each of the corrective actions of the Consent Order after the acquisition"  and saying, "Please provide a copy of the public portion of your response to the commenter, Mr. Matthew Lee." On Saturday, May 16 Sullivan & Cromwell sent Inner City Press a heavily redacted answer - information about Bill Smith removed, and any moves to address the predatory lending consent order. On Inner City Press' DocumentCloud here Inner City Press immediately email a FOIA request to the Board, whose FOIA portal has been broken for weeks. What is happening at the Fed? Watch this site.   Watch this site. *** Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron. Feedback: Editorial [at] innercitypress.com Mail: Box 130222, Chinatown Station, NY NY 10013 Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.  Copyright 2006-2026 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at] innercitypress.com