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Kenneth I. Chenault, vice chairman of American Express, intends to promote his company's credit card products to the banking industry. Chenault feels that bank card associations, such as Visa and MasterCard, are thwarting his company's efforts to expand into the larger banking community and he wants to address this issue. Chenault sees his company as having an advantage in being able to offer banks credit management and operational support., American Express Co. vice chairman Kenneth I. Chenault is on a diplomatic mission. He is out to convince bankers that American Express has a lot to offer as a marketing [...]

About a dozen lenders, concerned about the increase in consumer bankruptcies, have formed Bankruptcy Prevention and Counseling, a coalition meant to help them collectively address bankruptcy issues. The coalition, whose members include NationsBank Corp, MBNA Corp and Citicorp, will concern itself primarily with credit card debt. NationsBank VP Phil Davis expects the group to focus on customer service, counseling, and education., About a dozen institutions - including Citicorp, MBNA Corp., and NationsBank Corp. - have formed a coalition to deal collectively with bankruptcy issues. The program, called Bankruptcy Prevention and Counseling, [...]

NationsBank Corp plans to expand its credit card operations to meet its internal goals of at least matching the growth of industry leaders. The company's managed credit card receivables currently represent only about 5.9% of its domestic loan portfolio compared to between 10% and 12% for other major card issuers. NationsBank Card Services president Eileen M. Friars reported that the company seeks to expand the volume of its credit card receivables from around $6 billion to $12 billion., As in so many other parts of its empire, NationsBank Corp. has aspired to leadership in credit cards. And it has succeeded, to the extent that its name follows those [...]

Citicorp's Executive Vice President in charge of bank cards for North America and Europe Roberta J. Arena plans to expand Citibank's credit card presence in Europe. Arena has been with Citicorp for 20 years and is the only woman on Citibank's operating management committee. Citibank has 700,000 credit cards in Europe as of 1994 and plans to increase the number of credit cards in the area by 5 million through 1999. As of 1994, Citibank is in four of the 12 markets in the European Community and expects to enter two markets in Europe every 12 to 18 months., Nearly a year into her job as the top credit card executive at Citicorp, Roberta J. Arena is preparing to blanket Europe with Citibank cards. In a recent interview with [...]

Credit card industry experts expressed surprise and relief at the appeals court ruling that Dean Witter, Discover & Co. may not enter the Visa network. The 10th U.S. Circuit Court [...]

Online Resources and Communications Corp was granted patent No. 5220501 on its home banking payment system in Jun 1993, and the banking industry is concerned. Banks are objecting to the patenting of a payment process that uses new computer and communications technology. Banks that hope to enter the home banking business plan a vigorous challenge to the patent grant., Online Resources and Communications Corp., a supplier of home banking devices, has been getting far more attentioin than it bargained for. Though Online is one of the more successful manufactuers [...]

While Visa U.S.A. and MasterCard International were busy fighting a Justice Department antitrust lawsuit on Thursday, the judge in another antitrust case filed against the card giants postponed a summary [...]

John Ward, chairman and chief executive officer of American Express Bank, will step down to pursue other opportunities, American Express Co. said Tuesday. Mr. Ward's departure was disclosed as the [...]

As they continued their cross-examination of American Express Co. executive Stephan B. McCurdy on Tuesday, attorneys for Visa and MasterCard tried to show that Amex's shortcomings -- not the card [...]

A key witness in the Department of Justice's antitrust case against Visa and MasterCard testified on Wednesday that the credit card associations deliberately held back smart card technology so that [...]

The presiding judge in the Justice Department's antitrust lawsuit against Visa and MasterCard denied the card associations' request to have the case thrown out but said in a pretrial hearing [...]

Aiming to pump up its political muscle, Visa U.S.A. has hired a veteran lobbyist, Mark MacCarthy, whose roots are in Democratic politics. Mr. MacCarthy, who joined the credit card association [...]

The trial date for the Department of Justice's antitrust lawsuit against Visa International and MasterCard International has been changed to June 12 from June 7 because Judge Barbara Jones had [...]

Citigroup Inc. and Chase Manhattan Corp. recently adopted a policy of charging their customers a fee for transferring credit card debt to their Chase and Citi accounts. Free balance transfers [...]

Morgan Stanley Dean Witter & Co. has added automobile insurance to the lineup of financial products it is aiming to sell to the 48 million holders of its Discover credit [...]

Default Proof Credit Card System is on the cusp of launching its first product in nearly a decade -- a prepaid debit card that can be bought on the Internet. [...]

Beenz.com, the quirky company that created a currency for the Internet a year ago, said Thursday that it had found a bank -- Columbus Bank and Trust -- that will [...]

Until six months ago there was no easy way for consumers to send one another money through the Internet, but now a swarm of small companies and at least three [...]

X-Press 24 Runs 116 ATMs Belonging to 53 Massachusetts Institutions NYCE Corp. has purchased a small network of automated teller machines in Massachusetts, X-Press 24, from FleetBoston Financial Corp., the [...]

Chase Manhattan Corp. may gain early customer loyalty through a partnership with RocketCash Corp., an Internet payment systems company that runs a virtual mall geared to teens. Chase is providing [...]

At first blush, the emerging world of payments through the Internet and mobile telephones may seem tailor-made for credit cards. But the card executives who gathered at Faulkner & Gray's [...]

Another antitrust lawsuit has been filed against Visa and MasterCard, one that experts say draws on allegations already brought against the card companies by the U.S. Department of Justice and [...]

MIAMI - Unless bankers act now to cut deals with telephone companies, credit card issuers may be shut out of the new payments arena being created by wireless technology, warned [...]

Fair, Isaac & Co.'s credit scoring system, on which banks have relied for more than a decade in evaluating consumer creditworthiness, is under attack on several fronts, and the company [...]

Consumer advocates and bankers don't often get together and agree on an issue -- especially bankruptcy reform. But a group of them have put aside their differences to form the [...]

A company that specializes in helping professional investigators solve crimes and prevent fraud has announced that it will release fraud detection software that verifies information on credit applications. Because identity [...]

MBNA Corp. is making a play for the rich through a partnership with J.P. Morgan & Co. The unlikely pairing -- the white-shoe investment bank and a credit card company [...]

In the year since Providian Financial Corp. came under legal scrutiny for its fee policies, the credit card company has learned the hard way that it has been insensitive to [...]

Joining the small but trendy clique of banks that facilitate person-to-person Internet payments, FleetBoston Financial Corp. today plans to announce a partnership with Tradesafe.com, a Providence, R.I., company that helps [...]

Morgan Stanley Dean Witter & Co. says Visa International blocked it from acquiring Bank One Corp.'s credit card portfolios in Canada and the United Kingdom. Morgan Stanley, which issues the [...]

Credit cards and instant gratification are often considered synonymous. Now some card companies are pushing the envelope with a product that gives consumers the ability to shop on-line the minute [...]

In an argeement with ramifications for the credit card and electronic commerce markets, Wells Fargo & Co. said it would join with on-line auction site eBay Inc. in a venture [...]

Credit card issuers, tired of recycling solicitation after solicitation to the same pool of people, are starting to cast a wider net by turning to an old trick they hope [...]

Visa International and MasterCard International face unprecedented legal challenges this year in the form of two major antitrust lawsuits slated to go to trial within six months of each other. [...]

Europay International, MasterCard International's European affiliate, named a chief executive officer on Tuesday to succeed Louis-Noel Joly, who is to retire in November. Peter Hoch, who is a vice chairman [...]

Hoping to allay consumer fears about on-line credit card fraud and preserve its position as a force in Web payment handling, Visa U.S.A. plans to announce a series of initiatives [...]

U.S. Bancorp, the largest bank issuer of commercial cards, has teamed up with Staples Inc. to offer a small-business card that gives discounts to cardholders on Staples products and travel [...]

With its plan to buy the consumer information division of R.L. Polk & Co., Atlanta-based Equifax Inc. is poised to begin providing its credit card-lending customers with a new service: [...]

A new Internet company may become a central part of some big banks' efforts to beef up their services to small-business customers. Large banks are eyeing the small- and midsize-business [...]

A budding communication language is expected to receive an important vote of support today from Visa International, which plans to introduce a specification it hopes will become a standard for [...]

The troubled credit card division of Bank One Corp. took the first steps towards plugging up its leadership vacuum on Thursday when it named Anthony F. Vuoto president and chief [...]

The virtual credit card marketplace just got a little more crowded as Discover Financial Services Inc. came forward with another appeal to the consumer's competing desires for convenience and security. [...]

Seizing on the publicity of Internet security breaches and piggy-backing on telephone companies' data bases and billing infrastructure, a new crop of companies is about to launch an offensive against [...]

At first glance, a financial services partnership between American Express Co. and 7-Eleven Inc., might seem like a case of industry convergence run amok. To the companies, the alliance, under [...]

Chase Manhattan Corp.'s privacy settlement with New York State's Attorney General could provide a blueprint for addressing the issue of the use of customer data, but perhaps equally important was [...]

Two-year-old Asset Management Outsourcing is making its mark in the fast-consolidating collections business. The Kennesaw, Ga., company has acquired 18 companies in the customer service and collections business, jumping to [...]

A stream of departures by senior-level managers at First USA, the credit card unit that is largely responsible for Bank One Corp.'s recent woes, shows that investors and Wall Street [...]

An Internet start-up that lists credit card portfolios for sale is beginning to take off. Begun last July. AssetExchange.com is about to close its first deal, a portfolio worth $21 [...]

A start-up Internet security company that is marketing a secure electronic transaction product has filed suit against Visa International over a smear campaign that it says scared away potential customers. [...]

As credit card companies began sifting through the thousands of accounts affected by the theft of card numbers from a Web retailer, analysts pointed to on-line merchants as the group [...]