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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.

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