Hints and tips:
...At that time, the group, which consisted of Providian’s UK business, had $550m of receivables....
...The largest fine yet to be brought by the OCC was $300m against Providian National Bank, but that was for deceptive credit card fees, not money laundering....
...At the time, the group, which consisted of Providian’s UK business, had $550m worth of receivables....
...Providian, the struggling US subprime card lender....
...purchase of MBNA and Washington Mutual’s acquisition of Providian Financial....
...Last month, Providian Financial, the San-Francisco based credit card issuer, agreed to be sold to Washington Mutual, a savings bank, for $6.5bn....
...That amount is about 15 per cent of managed receivables, the same ratio of rival Providian, which has a similar customer credit profile....
...This month, Washington Mutual, a Seattle-based savings bank, announced it would buy Providian Financial for $6.45bn in cash and stock, marking its first foray into the credit card business....
International Edition