Wachovia, Suntrust Blindsided
Peralte Paul writes for the Atlanta Journal-Constitution about the implications of the MBNA acquisition for Wachovia and SunTrust, both of whom have card issuance deals with MBNA.
"Those banks sold their credit card businesses to MBNA because MBNA was a non-bank," David Robertson, published of the Nilson Report said."Now when you have a bank that competes with you in consumer deposit accounts, it's a very different dynamic."
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