DES MOINES – TMG Financial Services said yesterday it has acquired credit card portfolios from Belvoir FCU in Woodbridge, Va., and Sun Center FCU in LaGrange, Ohio.
With these portfolio purchases, the year-old cards company has more than 28,000 accounts and $53 million in receivables under management.
TMG is an affiliate of the Iowa CU League.
The group behind the proposed Georgia Skyline Bank says recapitalizing a 24-year-old Virginia bank offers a faster path to success than a new charter would.
IDScan.net removed the pages naming its bank and credit union integrations after KrebsOnSecurity traced 153 million license scans to the company.
A consortium of international FIs are planning to issue a U.S. stablecoin in early 2027; London-based OpenPayd has entered the U.S. through its acquisition of MSB USA; the U.K. fined Citi £4.7 million ($6.3 million) for hundreds of transactions in breach of sanctions against Russia; and more in this week's banking news roundup.
The controlling owner of Santa Fe-based Century Financial Services Corp. wound up in bankruptcy court. Now his 71% stake is on the verge of being sold to an Oklahoma bank.
Swift's network of 11,500 banks can exchange deposit tokens in a standardized way.
The big three's trade group has said they operate legally and protect the industry with a trio of reports. FHFA also is opening up VantageScore for all lenders.
