The Entry of AT&T and GM into the Credit Card

question 60

Multiple Choice

The entry of AT&T and GM into the credit card business is an indication of

• A)government's efforts to deregulate the provision of financial services.
• B)the rising profitability of credit card operations.
• C)the reduction in costs of credit card operations since 1990.
• D)the sale of unprofitable operations by Bank of America and Citicorp.

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Definitions:

Contract Law

A domain of law that governs the creation, execution, and enforcement of agreements between parties.

Corporate Law

Law that governs the formation, financing, merger and acquisition, and termination of corporations, as well as the rights and duties of those who own and run the corporation.

Public Prosecutor

An attorney whose official duty is to conduct criminal proceedings on behalf of the government or the public interest.

Own Businesses

The act of possessing, establishing, and managing one's commercial ventures or enterprises independently.