Green Dot announced the appointment of Mike Althouse as Chief Compliance Officer. In this role, Althouse will oversee the company’s compliance programs and work to ensure the digital bank adheres to all state and federal regulations as it strives to seamlessly connect people to their money. Althouse will report to the CEO of Green Dot Bank, Greg Quarles.
“Green Dot is well-positioned for growth with its own bank charter, leading products, world-class partners and a tremendously talented workforce, and I’m thrilled to join the team,” said Mr. Althouse. “Aligning the company’s compliance program and strategy to support its growth trajectory is critical, and it’s a responsibility I’m proud to accept.”
Althouse brings more than two decades of compliance leadership experience to Green Dot. He joins the company from The Bancorp, where he served as Chief Compliance Officer responsible for overseeing and improving the bank’s compliance programs spanning the consumer and commercial deposit and lending divisions, which included community banking, private-label banking, prepaid card, institutional banking, leasing and small business lending.
“Green Dot’s bank charter is a strong competitive differentiator and one of our most unique assets as a fintech focused on addressing the most pressing financial challenges of consumers and small businesses,” said Greg Quarles, CEO, Green Dot Bank. “Mike’s experience leading compliance programs for a variety of leading financial institutions will help ensure we maintain the highest standards of compliance as our company continues to grow and evolve.”
Prior to The Bancorp, Althouse served as Deputy Chief Compliance Officer of Barclays U.S. Consumer Bank, leading the Advisory team and providing oversight of regulatory, conduct and reputation risk management activities. Prior to that, he held roles as Head of U.S. Credit Compliance for PayPal and as Compliance Lead for a Private Label Credit Card program at Capital One.