Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

BancVue Buys Silverton's Accounts From The FDIC

Tuesday, September 7, 2010 - 3:34 PM
The creator of the high-yield reward checking account had an interesting acquisition last week. According to the Austin Business Journal:
[BancVue] announced the credit acquisition Thursday, buying up Silverton Bank accounts from the FDIC, representing about 700 banks and 113,000 cards.

Also, those following reward checking will probably recognize FAB&T. That bank is partnering with BancVue in this business:
the company partnered with First Arkansas Bank & Trust  of Jacksonville, Ark. to serve as a sponsor bank for institutions wanting to offer branded cards without building their own portfolio.

Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708