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Green Dot to acquire GE Capital's prepaid Wal-Mart cards

(Corrects 1st and 2nd paragraphs; Green Dot's bank unit is in Utah, not the parent company)

NEW YORK, Nov 22 (Reuters) - Green Dot Corp plans to acquire the Wal-Mart branded pre-paid debit card business from General Electric Co's GE Capital unit, the U.S. Federal Reserve said in a statement on Friday.

The Fed said it has approved the deal, which includes $276 million in total deposits, more than doubling the total deposits at Green Dot's Utah-based bank unit.

Green Dot plans to offer more features to Wal-Mart Stores Inc cardholders, including automated bill payment and check-writing.

GE said this month that it plans to sell its retail lending arm, as part of its plan to scale back exposure to financing businesses. (Reporting by Lauren Tara LaCapra; Editing by Gerald E. McCormick)