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B of A chief dissatisfied with bank's Visa focus

May 7, 2006

Datamonitor:Bank of America chief executive Ken Lewis said he's unhappy that his bank in the past concentrated on promoting the Visa brand instead of its own. The comment comes as the bank contemplates setting up its own payments network to rival MasterCard and Visa, which the bank helped create in the 1950s but lost control of in the '70s. B of A acquired card issuer MBNA at the beginning of the year, making it one of the largest card issuers in the world.

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