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Strategies & Market Trends : BAK - Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spin. who wrote (333)	3/1/2012 5:06:18 PM
From: batman10023	Read Replies (1) \| Respond to of 3249

what do you think CASH is worth? perhaps this is old news but how does this loss (i think) of customer affect CASH? In October of 2010, Meta Financial Group (CASH - $18.77 – Not Rated) which is one of The Bancorp’s main issuing bank competitors in the pre paid card space came under a highly restrictive regulatory order. The supervisory directive issued by the OTS required that the company receive regulatory approval before entering into any new third-party agreements. Meta was the primary issuing bank for NetSpend, which is one of the largest program managers in the pre-paid industry. In January, The Bancorp announced that it had reached an agreement with NetSpend to become the primary issuing bank for new cards. After a very long planning and conversion process, this should start to generate deposits and fee income for The Bancorp in the fourth quarter. In addition to the new business at NetSpend, The Bancorp is also getting a small slug of the existing business and balances that NetSpend had with a small issuing bank called Inter National Bank, a $2.3 bil. McAllen Texas bank.