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U.S. Bank Acquires FSV Payment Systems

U.S. Bank continues to grow its business across multiple prepaid market segments, including corporate, consumer, government and campus. Some of the prepaid products that U.S. Bank offers include payroll, general purpose reloadable (GPR), government disbursements, gift, incentives, reward, and campus cards.

Upon completion of the acquisition, FSV will operate under U.S. Bank’s Elan Financial Services brand. The acquisition is expected to close in December, pending regulatory approval. Financial terms of the transaction were not disclosed.

About U.S. BankU.S. Bancorp (NYSE: USB), with $352 billion in assets as of Sept. 30, 2012, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The company operates 3,086 banking offices in 25 states and 5,080 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.



Copyright Business Wire 2010
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