First Data Corp.'s card services group has signed a credit and debit card data processing contract with Signet Bank, Richmond, Va.

The financial terms of the agreement were not disclosed.

First Data is to provide Signet with cardholder account processing, card embossing, authorizations, statement rendering, and fraud management services.

Since spinning off its card business a year ago as Capital One Financial Corp., Signet has stayed in the card business, albeit on a smaller level. The $11 billion-asset bank has approximately 300,000 card accounts, according to Faulkner & Gray's 1996 Card Industry Directory.

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