Credit Card News Archive September 2005

• Capital One Slashes Purchase Price of Hibernia Bank - Capital One on Wednesday slashed the price they were willing to pay for Hibernia, a bank located in Louisiana.  In the wake of disaster following Hurricane Katrina, Capital One executives are attempting to purchase the bank chain for a lower price than originally agreed upon because of the damages done by the storm.
• Studies Show that Online Banking has Stagnated - A new study has shown that the percentage of Americans who do their banking activities online has leveled out in the past 12 months.  Standing at just 39%, the number indicates how many Americans depend solely on online banking for their checking and savings accounts as well as for tracking credit card balances and transactions.
• HSBC Provides Financial Relief for Hurricane Victims - HSBC North America has reacted to the disaster of Hurricane Katrina by allowing certain customers to waive late fees and hold off on payments to their loans and credit cards.
• Eight Credit Card Companies Accused of Antitrust Violations - A lawsuit has been filed in a New York federal court that charges eight credit card companies with violating US anti-trust laws through the process of mandatory arbitration which they have imposed on their customers.
• MasterCard Goes Public - On Wednesday August 31 2005, MasterCard announced plans to become a public company. They are overhauling the ownership structure under which they have operated for the past several decades
• Don’t Blink: New Technology Coming To An Airline Near You - Chase Bank USA has announced that their United Mileage Plus Visa credit card, which is issued in conjunction with United Airlines, is the first airline rewards credit card to feature a new technology called "blink."