— admin @ 4:13 am — 
December 30, 2009After Bank of America saw $4.5 billion in credit card losses in the first nine months of 2009, the new chief executive will be taking his position next week and one of the first priorities will be to fix is the bank’s credit card business. According to new CEO, Brian Moynihan, his main priority is to get his hands around the problem as soon as possible.
Card Population Control
As the second-largest U.S. credit card issuer, after J.P. Morgan Chase & Co., the bank has a lot of cards that have circulated to the public. In fact, according to the CEO, there are too many card users in general population.