Image Products Inc., a Wilmington, N.C., provider of debit reward programs for regional and community banks, has acquired Furnace, Giltner & Associates, an Austin debit card reward consulting firm.
The acquisition was announced Tuesday. Image, which offers its programs under the My Rewards brand, did not say how much it paid.
Bank earnings have been largely positive in the second quarter despite concerns that tariffs would increase inflation and stifle economic activity. Payment divisions at banks reaped the rewards, too.
The auto lender's earnings outpaced Wall Street's expectations. But shrinking car inventories at dealerships, which stemmed from new tariffs, put a dent in Ally's lending.
The Columbus, Ohio-based regional bank also benefited from strong performances by several legacy business lines, including auto, mortgages and SBA lending.
The Dallas-based lender, which reported a year-over-year decline in earnings, is anticipating increased loan activity and deposit growth later in the year.
With the passage of the bill, large banks are looking into their own stablecoins or partnering with the sector, while concerns linger about state regulation, the separation of banking and commerce and the disintermediation of the banking system.
