Citi to be first non-Asian bank to issue credit cards in China

Citigroup said it has won permission to issue credit cards in China, a first for a foreign bank amid complaints regulators largely shut out overseas competitors from tapping the massive market.In a statement issued late Monday, the US-based banking giant said it had received approval to issue its credit cards from industry watchdog the China Banking Regulatory Commission."This approval represents a significant milestone in the continued expansion of Citi's business in China," Stephen Bird, chief executive officer of Citi Asia-Pacific, said in the statement.

? has received regulatory approval to issue credit cards in China, the first non-Asian bank to receive permission. Citi said it would likely launch credit card operations this year. [Reuters] Debit Fees Gone, But What's ? Three months after scrapping plans for debit card fees, banks are trying to find ways to make up the ...

Citi, which expects to issue its first card this year, will become the first U.S.-based bank to issue its own credit cards in the country.» E-Mail This     » Add to Del.icio.us

The Chinese unit of Citigroup wins approval to launch credit cards in China, the first non-Asian bank to do so.

The credit crisis has shown the lack of political (or regulatory) skill, ethics and character that the USA has now. The solutions are not simple.

Bank of China will begin issuing American Express credit cards, the state-owned banking giant's first credit card designed for its private banking customers, the financial firms said Wednesday.Under the terms of their new partnership, BOC, one of China's "big four" banks, will issue a credit card for the affluent branded Bank of China Private Bank American Express(R) Card.

CHICAGO — U.S. Federal Reserve Chairman Ben Bernanke said on Friday that the shadow banking system still posed a threat to financial stability, and funding markets might still not be able to cope with a major default. In a wide-ranging speech explaining the Fed’s role in monitoring the health of the banking system, Bernanke also laid out how the central bank was looking at asset markets closely for signs of excessive risk taking.

(Reuters) - A federal appeals court will wait until late September to review U.S. District Judge Jed Rakoff's rejection of a U.S.