Green Dot Launches Government Division- Hires Mark Shifke as General Manager, Government Programs and Vice President, Special Projects

MONROVIA, Calif.--(BUSINESS WIRE)--Green Dot Corporation (NYSE: GDOT), a leading prepaid financial services company, today announced it has officially launched its new Government Division focused on designing and executing prepaid account programs on behalf of Federal, State and Local governmental agencies in need of payroll and benefit disbursement solutions.

“Mark is a former Green Dot board member and long time friend. Green Dot trivia fans will also know him as one of our first investors back in 2001”

Concurrent with this announcement, the Company is pleased to name Mark Shifke to the position of General Manager, Government Programs and Vice President, Special Projects. Mr. Shifke will join the company in May.

“Mark is a former Green Dot board member and long time friend. Green Dot trivia fans will also know him as one of our first investors back in 2001," said Steve Streit, Green Dot’s founder and Chief Executive Officer. “Mark’s understanding of our products, our customer base and how our company operates will make him an integral part of our management team. We're very fortunate to have been able to recruit a senior executive of Mark's caliber to run such a key new division and to be on staff to advise us on any number of strategic projects underway now and in the future."

Mr. Shifke possesses 27 years of experience on Wall Street as a lawyer and investment banker. Most recently, Mr. Shifke served as Managing Director at JP Morgan where he provided strategic and structuring advice in connection with M&A transactions and capital market offerings. Prior to that, he served as Vice President for Goldman Sachs’ Investment Banking department and was a Partner at Davis Polk & Wardwell. Mr. Shifke received his LL.M. in taxation from NYU School of Law, J.D. from Tulane Law School, and B.A. from Tulane University.

About Green Dot

Green Dot is a leading prepaid financial services company providing simple, low-cost and convenient money management solutions to a broad base of U.S. consumers. Green Dot also owns and operates the Green Dot Network, the nation's leading prepaid card reload network. Green Dot products are available online at www.moneypak.com and www.greendot.com and at approximately 55,000 retail stores, including Walmart, Walgreens, CVS/pharmacy, Rite Aid, 7-Eleven, Kroger, Kmart, Meijer, and Radio Shack. Green Dot is headquartered in the greater Los Angeles area. For more details, visit www.moneypak.com.