Metabank is a component for the Ventra system public-private partnership
Beyond the every day issues plaguing the Ventra rollout lies a possibly more fact that is troubling The banking partner plumped for included in the Ventra system seemingly have a lengthy reputation for legal issues pertaining to previous involvement in prepaid debit schemes as well as other activities.
The partnership that is public-private up to perform Ventra includes (at the least) four entities aside from the CTA: First information, Cubic Transportation techniques, Mastercard and Metabank.
Metabank, section of keeping business Meta Financial Group, Inc., had been opted for by Cubic as a partner when you look at the debit that is prepaid part of official site this system, in line with the CTA. Situated in Storm Lake, Ia., Metabank ended up being when referred to as First Midwest Financial and it has for ages been tangled up in producing and running payment that is electronic such as prepaid debit card programs, in component through its Metapay subsidiary.