Cabela's Bank Renews Card Deal

Published February 09, 2011, 6:24 p.m. EST

Updated February 09, 2011, 5:24 p.m. EST

1 Min Read

The bank unit of Cabela's Inc., an outdoors merchandiser, has renewed a credit card processing agreement with the Atlanta payments company First Data Corp.

Processing Content

First Data said Wednesday that, in addition to processing about 2 million card accounts, it would also supply account statement, card production and mailing services for World's Foremost Bank. The companies did not disclose the financial terms.

World's was chartered in 2001. The bank is the exclusive issuer of Cabela's Visa Inc. credit card.

Andrew Johnson

Andrew Johnson covers technology and payments systems for American Banker. He focuses on mobile services, card processing and what the emergence of... Read full bio

MORE FROM AMERICAN BANKER

Federal Reserve

Former Fed official argues against Fed independence

Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President Trump's first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound.

By John Heltman
Washington Bureau Chief

April 10
Tokenization

Securitize appoints former SEC official as president

The tokenization platform provider, which has a nonbinding agreement with NYSE and is aiming for a public debut, promoted former SEC Trading and Markets Director Brett Redfearn to the role.

By Melinda Huspen
Tech Reporter

April 10
Industry News

Deutsche Bank raises chairman pay, Wells Fargo hires Ghosh

Deutsche Bank is raising the base pay of Supervisory Board Chairman Alexander Wynaendts by 21%, Wells Fargo has hired Neil Ghosh as head of chemicals investment banking, Bank of America's Alexandre Bettamio is being considered for chief executive officer of Brazilian stock and derivatives exchange B3 SA, and more in this week's banking news roundup.

By Traci Parks
Copy editor, American Banker

April 10
Politics

OMB will release CDFI funding

The White House Office of Management and Budget will issue paperwork allowing the Treasury Department to disburse congressionally appropriated funds through the Community Development Financial Institutions Fund, breaking an impasse that has stalled funding for months.

By Claire Williams
Reporter

April 10
Fraud

FBI: Real estate cyberfraud rises with more AI, crypto scams

The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.

By Andrew Martinez
Reporter

April 10
Community banking

BayCom in California replaces its senior leadership team

In a strategic shift, the Walnut Creek-based company has tapped a trio of former PacWest executives to fill its top three management positions.

By John Reosti
Reporter

April 10