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MBNA Open to Issuing AMEX, Executive Says

NEW YORK - An executive with MBNA, a noted purchaser of credit union credit card portfolios, has signaled that the company would be open to issuing American Express cards if they could conclude a profitable arrangement with the card company. According to media reports, the MBNA CEO went on the...

By Staff Writer | Updated on December 02, 2003

NEW YORK – An executive with MBNA, a noted purchaser of credit union credit card portfolios, has signaled that the company would be open to issuing American Express cards if they could conclude a profitable arrangement with the card company. According to media reports, the MBNA CEO went on the record in New York with the opinion that the public would want American Express cards from MBNA, providing the two companies struck a deal to issue the cards that was sufficiently profitable. VISA and MasterCard used to bar card issuing institutions from issuing anything other than their own branded cards, but that policy has been the subject of anti-trust lawsuits and has recently been overturned in court.

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