SOURCE: MarketResearch.com

MarketResearch.com

September 28, 2009 10:38 ET

Supreme Court Decision Alters Rules for Bank Card Lending

ROCKVILLE, MD--(Marketwire - September 28, 2009) - MarketResearch.com has announced the addition of TowerGroup's new report "National Banks Under Assault: US Supreme Court Alters Rules of the Game for Bank Card Lending," to their collection of Banking & Financial Services market reports. For more information, visit http://www.marketresearch.com/redirect.asp?progid=67618&productid=2422856

TowerGroup expects that the June 2009 US Supreme Court decision in re Cuomo v. Clearing House Association LLC will increase bank card expenses and decrease bank card revenue.

The credit card issuers can anticipate more state review and intervention in their consumer lending business practices.

TowerGroup expects that once economic recovery begins, the competition for deposits will create tension between national banks and state-chartered banks. The recent Supreme Court decision will complicate national banks' efforts to use deposits to offset the weak market for asset-backed securities.

Current business trends suggest that 2009 could be the first unprofitable year for the bank card industry.

The bank card industry's probable negative performance will be exacerbated by the recent Supreme Court decision.

Topics covered in the report include...

Report Coverage
Background
OCC's Rules Preempting States' Authority over Banks
2009 Supreme Court Case: Cuomo v. Clearing House Association LLC
State-Chartered Banks Will Benefit
Summary

For more information visit http://www.marketresearch.com/redirect.asp?progid=67618&productid=2422856

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