USAA Federal Savings Bank of San Antonio will become the third U.S. bank to issue American Express Co. cards and is no longer a defendant in Amex's antitrust lawsuit.
Amex said Tuesday that USAA will start issuing Amex credit and charge cards in the second quarter of next year.
In November, Amex filed a suit against Visa U.S.A., MasterCard International, and eight banks, including USAA, to recover damages allegedly suffered as a result of anticompetitive practices by the two card associations. A Supreme Court decision in October eliminated Visa and MasterCard rules that barred their members from partnering with Amex in the United States.
MBNA Corp. has begun issuing Amex cards, and Citigroup Inc. plans to begin issuing them this year.
USAA is the 11th-largest U.S. credit card issuer, according to the newsletter The Nilson Report.
