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NextCard Inc., the provider of Intemet-based Visa cards, plans to establish a limited purpose, national credit card-issuing bank within the next few months, dubbed NextBank.
"Setting up a limited purpose bank is easier than creating a full-service bank because the regulatory issues are different, for example," says analyst Liam Carmody, president of Carmody & Bloom Inc., a Ridgewood, NJ, financial services consulting firm. "NextCard might be on the...