Payments/Credit/Debit

A study from the Pew Health Group has found that the Credit CARD Act has virtually eliminated many of the major card issuer's practices that used to give credit unions a marketing advantage for their own cards.

The $955 million Town North Bank reached the brink of undercapitalization when it sold its card processing business to Fifth Third Processing Solutions on July 6 for an undisclosed price.

Visa Inc has recognized Fifth Third Processing Solutions for its efficiency in card transaction processing.

In what has become a relatively rare move, a Washington area credit union has sold its credit card portfolio to an agent-issuing bank.

Credit unions which own the $955 million Town North Bank may face a call for additional capital to support it going forward, according to analysts asked to review the bank's financial reports.

Credit unions that set out to improve their credit card management procedures see significantly improved income and card portfolio growth over those which do not, according to Card Services for Credit Unions.