IN RESPONSE TO FDIC:

[New Haven, CT - August 8, 2012]

"This announcement resolves the open 2010 FDIC compliance examination of The Bancorp Bank and Higher One. We have already voluntarily incorporated or are in the process of incorporating the FDIC suggested improvements to our policies for compliance management systems, past overdraft charging of persistently delinquent accounts, collections, and transaction error resolution.

With respect to the restitution, we voluntarily credited account holders in December of 2011 pursuant to our voluntary customer credit plan -- which impacted less than two percent of our customers. We believe the relatively low civil money penalty imposed reflects how seriously we take our commitment to our customers, the degree of the issue, and our level of cooperation with the FDIC."