A private equity firm, the Blackstone Group, has launched talks to possibly take over FIS, the card processor for the majority of the nation's card issuing credit unions.
According to a report in the Wall Street Journal and other news outlets, Blackstone is the lead firm in a group that includes TPG and Thomas H Lee Partners LP in discussions with the processor, which the paper described to be at a "sensitive stage."
No one from FIS has yet returned calls for comment about the report or, if true, what it might mean for FIS' credit union clients.
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