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The Delaware bank, which issues cards for a wide swath of the prepaid industry, will have to curtail its growth as part of an agreement with the FDIC.
June 13 -
Under CEO Betsy Cohen, The Bancorp is plugging alternative financial services upstarts into the banking system. But a regulatory hiccup could hinder growth.
July 28 -
Sen. Richard Shelby's attempt to reform Dodd-Frank could ease key bank regulations that improve the safety and soundness of big banks. That would be an immense disservice to the American taxpayers who might bear the cost of the changes with future bailouts.
May 15
The Bancorp in Wilmington, Del., has again delayed the filing of its 2014 annual report and is also late in submitting its first-quarter results, it said in a news release Friday.
The $5 billion-asset company, which has been under fire from regulators, did not file its annual report, or 10-K, early this year as required. Last month it promised to submit the report by May 11, but it said in a regulatory filing May 11 that it would miss that deadline, too.
"The delay was occasioned by additional testing being performed by the companys independent public accountants," The Bancorp said in
It now plans to submit its 2014 annual report by the end of June, and has delayed its first-quarter report until then as well, according to the filing and the release.
The delays have put the Bancorp into conflict with the Nasdaq stock exchange's requirements for timely filing of financial results. Nasdaq recently sent its second warning letter to The Bancorp, stating that the company faces the possibility of delisting unless it submits its reports promptly, the release said. Nasdaq had set a June 1 deadline for the annual report, but the company said it hopes its latest plan will satisfy exchange officials.
The company has been through a lot of regulatory and financial tumult in the past year.
The Bancorp in June 2014
In January of this year, it said it had
Chief Executive