Webster Bank of Waterbury, Conn., which a year ago was expressing high hopes about its credit card business, has beaten a retreat.

The principal subsidiary of $9.8 billion-asset Webster Financial Corp. sold its $31 million Visa portfolio to First USA Bank in April. Only seven months earlier, Webster hired card industry veteran Ronald T. Urquhart to breathe life into the business.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.