Sep 22, 2010
Fifth Third Processing acquires Springbok’s prepaid platform
Cincinnati, Sept. 21, 2010 -- Fifth Third Processing Solutions, LLC, today announced that it has acquired certain assets of Englewood, Colorado based Springbok Services, Inc. The assets were acquired by Fifth Third Processing Solutions in connection with Springbok's Chapter 11 bankruptcy proceeding and include Springbok's cutting edge reloadable prepaid card processing platform. Founded in 1998, Springbok... read more
Aug 20, 2010
FBI reports forfeiture of processors’ proceeds from illegal activities
New York, Aug. 17, 2010 -- PREET BHARARA, the United States Attorney for the Southern District of New York, and JANICE K. FEDARCYK, the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (FBI), announced today that two payment processors—ALLIED WALLET, INC. and ALLIED SYSTEMS, INC.—and their owner AHMAD KHAWAJA entered into a settlement agreement requiring them... read more
Aug 17, 2010
The Fed approves gift card rule extension
Washington, Aug. 11, 2010 -- The Federal Reserve Board on Wednesday announced its approval of an interim final rule implementing recent legislation modifying the effective date of certain disclosure requirements applicable to gift cards under the Credit Card Accountability Responsibility and Disclosure Act of 2009. For gift certificates, store gift cards, and general-use prepaid cards produced prior to... read more
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