The penalty for any bank that decides to issue cards on the Discover or American Express networks is severe. Visa and MasterCard rules are clear. They will throw banks out of their network, thus having the effect that banks must exit the retail banking business.

256

As I approached 60, I decided I did not want to work full-time until I was 65.

179

Allow Ken to increase the range of his responsibilities.

157

The CEO succession process from me to Ken has gone smoothly, and we have been able to move even more quickly than I anticipated, ... Ken has put in place the new organization structure and senior leadership team.

112

We wanted to hopefully get more volume, but if it had a negative effect on MasterCard or Visa, I certainly wouldn't have objected to that. I would have been very enthusiastic about it.

93