Tuesday, March 29, 2022

MetaBank to rebrand as Pathward

MetaBank in Sioux Falls, S.D., will rebrand as Pathward. 

The $7.6 billion-asset bank said in a press release Tuesday that the plan is to shift to the new name by the end of this year. 

Meta Financial, the bank’s holding company, will become Pathward Financial.

"Expanding financial access is too complex and important to be a part-time activity, which is why we’ve made financial inclusion for all the heart of everything we do,” Brett Pharr, MetaBank’s CEO, said in the release. 

“Pathward signals our commitment to removing barriers that prevent millions of Americans from achieving access to the financial system,” Pharr added. “Our new name serves as a constant reminder of the importance of creating a path forward for the unbanked, underbanked and underserved to help them achieve economic mobility.”

Meta said in December that it would change its names after selling its Meta-related rights and trademarks to an entity affiliated with the parent company of Facebook.

Meta sold the rights to Beige Key LLC for $60 million. Beige Key is affiliated with Facebook, which changed its corporate name to Meta Platforms. 

Meta received $50 million when the agreement was signed; the remaining money will be released after the phase-out is complete.

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