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Washington Mutual Completes Providian Acquisition

by Peter Andrew

Washington

Mutual Completes Providian Acquisition

Washington

Mutual Inc. has completed its $6.1 billion acquisition of credit

card issuer Providian Financial Corp.

While

Providian credit card customers will continue to use their existing

accounts, Washington Mutual plans to introduce its own branded

credit card within the next year.

Providian's

Chief Executive Officer Joseph Saunders will stay on with Washington

Mutual, leading the credit card business from San Francisco.

Published 10/04/05 (Modified 09/26/12)


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