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Elan Financial Services Acquires $700 Million in Financial Institution Credit Card Portfolios

veracious
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Elan Financial Services Acquires $700 Million in Financial Institution Credit Card Portfolios

MINNEAPOLIS, Dec 21, 2011 (BUSINESS WIRE) -- Elan Financial Services, a unit of U.S. Bancorp USB -0.47% , has completed the acquisition of the credit card assets of 28 financial institutions, in a portfolio comprising approximately $700 million of outstanding balances. The portfolio, which includes small business and consumer cards, was acquired from FIA Card Services, N.A. The terms of the agreement and purchase price were not disclosed.

 

http://www.marketwatch.com/story/elan-financial-services-acquires-700-million-in-financial-instituti...

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