BOSTON – Kessler Financial Services, long considered a brokerage firm with ties to credit card giant MBNA, should more properly be understood as MBNA's business development arm when it is working with credit unions, according to Steven Fuld, Senior Vice President of the Boston-based company. "In the area of affinity marketing we really are the business development arm of MBNA," Fuld said, pointing out that the firm represents the Delaware-based credit card issuer in other affinity deals, such as those with alumni groups, labor unions and others. The firm will still broker credit card deals, even from credit unions, to other issuers if MBNA passes on them first, Fuld said, and still maintains relationships with other firms in other parts of its business. Critics of Kessler have long pointed out that a company calling itself a brokerage should be able to offer its clients access to more than one firm when marketing a credit card portfolio.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
