DALLAS – TNB Card Services said yesterday it has acquired the $12 million credit card account from AFTRA-SAG FCU in another agent issuer deal. Credit union-owned TNB, which now manages cards programs for over 130 credit unions, has moved steadily into larger portfolios, acquiring in recent weeks the $8 million portfolio of Island FCU, the $15 million portfolio of CME FCU, and A+ FCU’s $16 million in cards receivables. AFTRA-SAG FCU was founded in 1962 to serve members of the American Federation of Television and Radio Actors and the Screen Actors Guild, the unions for Hollywood actors.
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There are several options for smaller banks, including working with an agent bank, according to payment experts.
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The sixth bank failure this year shows that even as the industry overall is very profitable, there are pressures on a lot of banks that aren't the biggest.
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Bankers have taken out ad buys against incumbent Republican Senator Roger Marshall of Kansas as he struggles to hold what has traditionally been a ruby-red Senate seat.
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As the U.N. renews its call for $1.3 trillion a year in climate finance, four leaders in climate finance say the biggest question for advisors is where that money goes.
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The National Association of Insurance Commissioners responded to a query from Sen. Elizabeth Warren about risks to policyholders stemming from private-equity ownership of life insurers.
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