BofA Move May Cause More To Re-Enter Card Biz

December 2011
Credit Union Journal;12/12/2011, Vol. 15 Issue 48, p1
Trade Publication
The article reports that the Bank of America Corp. (BofA) will discontinue issuing cards for credit unions. BofA for years has purchased card portfolios from credit unions and banks via FIA Card Services. BofA spokesperson Betty Reiss has cleared that BofA has sought to exit the agent-bank role. BofA's decision are moving to bring portfolios back in-house.


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