Pier 1 Im-ports Inc. announced the purchase of a national bank charter in Omaha from a subsidiary of Texaco Inc.

The newly named Pier National Bank will be used to standardize the interest rates and fees Pier 1 charges on its proprietary card.

Pier 1 will also be able to export the Nebraska interest rate to the 46 other states where the company operates. The specialty retailer has 2.27 million cardholders.

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