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MetaBank, Bancorp Bank reach new prepaid card deal

MetaBank and Bancorp Bank have struck another deal, this time for assets connected to the latter's general purpose, reloadable card program managed by Catalina Card Services.

Sioux Falls, S.D.-based MetaBank estimates purchased and assumed prepaid card account liabilities will reach an average of $4.2 million in the first 12 months of the deal's implementation. The figure represents balances on 10,689 prepaid card accounts.

MetaBank and Wilmington, Del.-based Bancorp Bank completed a similar transaction in May 2017.