Payments/Credit/Debit

Elan Financial Services, a subsidiary of US Bank, has purchased the credit card portfolio of the $250 million Potlatch No. 1 Federal Credit Union headquartered in Lewiston, Idaho. The purchase brings 5,000 card accounts worth $6.6 million in outstanding balances to Elan, according to the Kessler Group, which brokered the...

In a move which could be seen as a triumph over a long standing nemesis, Fidelity National Information Systems, the leading processor of credit union card transactions, has purchased Asset Exchange, arguably the most well-known broker of credit union credit card portfolios.

In the face of conversion "rhetoric," CO-OP Financial Services is committed to retaining its strong credit union character as it pursues further signups with ATM/electronic funds processing groups, a number of which are league-sponsored, according to CO-OP Chairman David Maus of Denver.

DALLAS -- TNB Card Services, the card portfolio arm of credit union-owned Town North Bank, has purchased four more credit union credit card portfolios, pushing the total number of CU card portfolios they own and market in relationship with the credit unions to more than 125.

BROCKTON, Mass. -- The $1.4 billion HarborOne Credit Union has billed TJX Maxx, the parent company of a number of different retail chains which suffered an extensive card data security breach for $590,000 in costs associated with its losses during that breach.

SACRAMENTO -- After months of extensive scrutiny, a proposed data security bill sailed through the California Assembly, passing by a margin of 55-2.

Fidelity National Information Systems' purchase of Asset Exchange was several months old before...

Asset Exchange, a leading broker of credit union credit card portfolios, which has been purchased...