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Bullish on Bank Cards: Bank of America's Acquisition Brings Dimension to the High-End MarketPublished by: TowerGroup Published: Sep. 17, 2008 - 2 Pages Table of Contents
AbstractThis TowerGroup ViewPoint assesses the implications for the card industry of the acquisition of Merrill Lynch by Bank of America (BofA). It explains how the integration should be seamless and rapid, based on the existing processing arrangement between the two companies. The ViewPoint also suggests additional pressure for American Express Co., a card issuer currently under market stress. The Merrill Lynch offering brings BofA a high-net-worth network-branded card product that can directly compete with the co-issued Bank of America/American Express Accolades card.Get Full Details About This Report >> |
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