MGMT 1030 Lecture Notes - Lecture 5: Chase Bank, Bank Charge, Protein Kinase B

• School: York University
• Department: Management
• Course: MGMT 1030
• Professor: Andrew Thomson

Document Summary

First national city bank (fncb) of new york launched everything card in 1967: first universal credit card, unlike other cards restricted to local use. Preceded by department stores, hotels, oil-and-gas companies; credit customer guaranteed fidelity to store. 1950s american commercial banks established local form of credit charge plan. Legally, women were not permitted to take out credit until equal credit opportunity act (1974) Failure to acquire competitor carte blanche, competition from regional associations, cost of launching. System, comptroller of the currency, and federal deposit insurance corporation (fdic: senator william proxmire proposed fair credit reporting bills had 3 goals: demand greater care in issuing credit cards, limit liability cardholder, enhance credit information. First national city bank joined master charge plan in 1969 (later becoming mastercard) and.