"The move leaves NextCard without the banking backbone traditionally needed to issue credit cards under the Visa name." Can Visa cc's be issued from non bank entities??
"While we are currently in discussions with regulators as they further assess NextBank's situation, Visa's focus remains on cardholders and providing them superior service, convenience and reliability," Visa spokesman Kelly Presta said in a statement. "Currently nothing has changed for NextCard Visa cardholders--they may continue to use their cards at more than 22 million locations worldwide, and their cardholder agreements remain in effect."
Here is another from LA Times: http://www.latimes.com/business/la-000009769feb08.story?coll=la-headlines-business Another one: http://siliconvalley.internet.com/news/article/0,2198,3531_971491,00.html Ron.
