|
|
Article: NationsBank Faces Decision Over $1B of Barnett Loans.(merger with Barnett Banks Inc.)
- Article from:
- American Banker
- Article date:
- September 8, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
NationsBank Corp.'s merger agreement with Barnett Banks Inc. could undo one of last year's more eye-opening credit card deals.
NationsBank would end up owning $1 billion of loans that Jacksonville, Fla.-based Barnett has agreed to let Household Credit Services Inc. manage on its behalf.
An aggressive card issuer intent on controlling its own destiny, NationsBank would likely move to bring those Barnett accounts in Florida and Georgia under its wing. Analysts said they have heard from Barnett and NationsBank officials of a clause in the contract with Household that covers the possibility of a merger and a renegotiation of terms.
NationsBank, owner of a ...