Global Payments in Atlanta announced a bold realignment of its business strategy, agreeing to divest Issuer Solutions and buy Worldpay. The merchant services provider said in a press release that it will sell Issuer Solutions to FIS for $13.5 billion. In a separate transaction, it will buy Worldpay from GTCR and FIS for $22.7 billion. The deals are expected to close in the first half of 2026. With the acquisition

A new legal filing from former Silicon Valley Bank executives is pushing back against the Federal Deposit Insurance Corp.’s claim that executive negligence led to the bank’s historic collapse in March 2023. In a motion to dismiss the FDIC’s lawsuit, the former officers argue that the bank's failure was the product of an extraordinary, social-media-driven bank run—not mismanagement. The FDIC, acting as receiver for SVB, sued several former executives in

CFCU Community Credit Union in Ithaca, N.Y., has rebranded as Beginnings Credit Union. The $1.4 billion-asset credit union said it is made the change because the meaning of the acronym “CFCU” has evolved over time. “It’s time we have a strong, unified brand that reflects the reality of who we are today, and shines light on our personal approach to banking," the credit union said in a press releease. "Our

In a stunning move, the White House dismissed Todd Harper and Tanya Otsuka from the National Credit Union Administration board, abruptly ending their tenures and throwing the agency’s regulatory direction into limbo. The decision leaves the NCUA without a quorum, effectively halting its ability to issue new rules or take formal board action. Harper, a Democrat and former NCUA chairman, blasted the decision in a sharply worded statement. “The decision

The Community Bankers Association of Georgia will invest in the latest fund from BankTech Ventures. The association said in a press release that its board approved an investment in BankTech Ventures’ Fund 2. The investment was made possible by a special purpose vehicle formed by the Community Bankers Association of Illinois that lets Georgia community banks invest as little as $50,000 in the fund. The amount of the association's investment

AmeriServ Financial has struck a deal with one of its largest shareholders, SB Value Partners, to help grow and streamline the Johnstown, Pa., company’s wealth management division. As part of a four-year agreement, SB Value Partners — which owns about 8.2% of AmeriServ’s stock — will provide advice on how the banking company can improve operations and increase assets under management in its wealth business. In return, SB Value could

Marion and Polk Schools Credit Union in Salem, Ore., has agreed to buy Lewis & Clark Bank in Oregon City. The $1.4 billion-asset Maps Credit Union did not disclose the price it will pay for the $342 million-asset Lewis & Clark. The deal is expected to close around the first quarter of 2026. Lewis & Clark is the fourth bank to agree to sell to a credit union this year.

Franklin Financial Services in Chambersburg, Pa., will soon have a new leader. The $2.2. billion-asset company disclosed in a regulatory filing that Craig Best will become its CEO after its April 29 annual meeting. Best, Frankin Financial's president, will succeed Timothy Henry, who will retire on May 2.