MINNEAPOLIS - (05/03/05) -- Elan Financial Services, a unit ofUS Bancorp, said it has acquired two more credit card portfoliosfrom credit unions. They are from Bellco FCU, Wyomissing, Pa., with$1.5 million in receivables and 1,040 accounts; and LakeshoreCommunity CU, Avon Lake, Ohio, with just $365,000 in receivables.Both deals were brokered by Keesler Financial Services ofBoston.
The Las Vegas bank's deal for Arc Technologies comes three months after Capital One paid $5 billion for AI-native payments firm Brex.
With Robinhood Chain now live, the company is pushing into tokenized equities, stablecoin lending and international markets.
Industry experts say regional banks have roughly a two-year window in which to merge, before they risk the clock expiring on the Trump administration's M&A-friendly policies.
The order covers the European units of JPMorganChase, Goldman, Citi and Morgan Stanley, and previews what U.S. regulators may eventually demand.
The proposal calls for banks to make their compliance programs "risk-based" and pledges to emphasize "systemic" flaws with anti-money laundering programs rather than "isolated" shortcomings.
As JPMorganChase, Wells Fargo and others chase a potential $15 billion deal to buy Fiserv's Star network, experts say the growth of AI-powered transactions and competition among bank technology firms will make debit routing a hot commodity, portending more M&A and placing pressure on traditional card networks.
