MyECheck, Inc. (fka MYEC)

[MODiFiEDZ]

Great Recession
When the effects of Great Recession of 2008 and subsequent bank closures began to be felt, MyEchecks’ business—like many others—was negatively affected. In January 2010, First Regional Bancorp was closed by the Federal Deposit Insurance Corporation and acquired. The new parent company elected to discontinue the former banks’ partnership with MyEcheck. MyEcheck experienced a downturn in transaction volume and a reduction in revenue through 2012.