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Home » Store » News » FDIC Transfers NextCard Subservicing Back to NextBank, Makes $1M Loan as NASDAQ Delists Company Stock

FDIC Transfers NextCard Subservicing Back to NextBank, Makes $1M Loan as NASDAQ Delists Company Stock

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The Federal Deposit Insurance Corp. and NextCard Inc. have modified the company’s credit card receivables subservicing agreement and transferred servicing responsibility back to NextBank, the original servicer. The FDIC is the receiver for NextBank, which has two sets of credit card-backed securitizations outstanding worth almost $1.2 billion. The bank had been servicing those deals until Feb. 7, when the Office
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