The bank has a new bank account, the E-Trading Bank, which will open in January.
That means it’s now up to users to sign up for the new bank.
The bank said it’s also moving the ETC accounts, which have historically been used for online trading, to the ETP account.
“We’ve made some changes to help customers make sure their accounts are aligned with their trading activity,” the bank wrote on its blog.
The new account will be managed by a new division called the ETA Account, which is part of the bank’s banking arm.
The E-trading Bank is part-owned by Merrick, which has been the subject of some regulatory scrutiny in recent years.
Merrick was recently forced to admit that its mortgage product made borrowers and their lenders more vulnerable to predatory lending.
In October, Merrick also agreed to pay $3.8 million to settle charges that it had been manipulating the price of mortgage-backed securities by artificially inflating the value of the underlying debt.
The deal comes at a time when investors are trying to learn more about the financials of the big three banks, as well as the EBT cards and prepaid cards.
Here’s how the big banks stack up: