Lamar Smith joined Visa U.S.A. as vice president of government affairs in December 1992, after serving five years as Republican staff director to the Senate Banking Committee.

For the most part, it was a very good year for the bank card industry. Congress passed a bankruptcy bill and telemarketing fraud legislation that banks supported. It also added a "fix" to the interstate branching bill to ensure banks would be able to continue exporting interest rates across state lines.

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