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Bancorp, Higher One To Pay FDIC $11M Over Student Fees

By Linda Chiem (August 8, 2012, 5:19 PM EDT) -- The Bancorp Bank and Higher One Inc. have agreed to pay a total of $282,000 in penalties and $11 million in restitution over claims they deceptively collected fees from student debit card holders, in violation of the Federal Trade Commission Act, the Federal Deposit Insurance Corp. said Wednesday....

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