Prepaid

The OTS Order Against MetaBank Touches NetSpend and the Prepaid Industry

On October 6, 2010, the Office of Thrift Supervision (OTS) issued a Supervisory Directive to MetaBank that requires MetaBank to get written approval from the OTS before entering into new business. The OTS has not yet made any information on this available to the public, so what we know about the order comes from filings with the Securities and Exchange Commission by MetaBank's parent company, Meta Financial Group Inc.

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