In April, Citicorp's senior retail executive, James L. Bailey, gave the banking industry a Paul Revere-type warning about the threat posed by nonbank credit cards.

The annual American Banker survey of the top card issuers shows he had good reason to speak up.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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