Banking & Finance

U.S. Bank, lead bank of U.S. Bancorp, announced it is acquiring Jacksonville, Fla.-based FSV Payment Systems, a prepaid card processing company known for its expertise managing a broad range of prepaid programs for companies, governments and other financial institutions.

The U.S. economy grew much faster in the third quarter than originally reported, as the Gross Domestic Product (GDP) was revised to 2.7 percent from the original estimate of 2.0 percent, according to the U.S. Commerce Department.

Milwaukee-based ARI Network Services Inc. announced it has completed the acquisition of the retail division assets of 50 Below Sales & Marketing Inc. of Duluth, Minn.

Waukesha-based MetalTek International has acquired Lakeland, Fla.-based industrial metal fabrication and machining company Specialty Maintenance and Construction Inc.

U.S. HealthWorks, one of the largest operators of occupational health care centers in the United States, announced it has acquired four health care centers and two worksites from Sensia Healthcare in Wisconsin.

Milwaukee-based mortgage insurer MGIC Investment Corporation will pay $267.5 million to Freddie Mac under a settlement to the pool insurance dispute between the companies and the Federal Housing Finance Agency.

Waukesha-based Generac Holdings Inc. announced that due to market conditions, the secondary offering of shares of the company's common stock by certain selling stockholders is being withdrawn from the marketplace.

Milwaukee-based Lubar & Co. announced it has acquired Marinette-based ChemDesign Inc.

Following a meeting this week with the President, as well as conversations with Congressional leaders, I am more convinced than ever that a budget deal to avoid the 'fiscal cliff' must and can be found.

The Federal Reserve Board on Thursday announced the termination of its enforcement action against Johnson Financial Group and Johnson Bank of Racine.