New Chief, new challenge of credit card Brian T. Moynihan, 50, takes the helm of Bank of America as new honcho chief tar today, and he faces umpteen challenges that includes a money-losing credit card division in need of clean strategizing. Moynihan was selected by the Sheet of Directors to exchange Kenneth D. Adventurer, who retired officially yesterday. Bank of America is the second-largest U.S. card issuer, after JPMorgan Chase, and the card partitioning accounts for 23 percent of BofA's revenue finished the prototypical ennead months of 2009. But in the position canton alone, credit card income declined $1.6 1000000000 - mainly from higher credit losses on securitized credit card loans and change fee income. That amounts to a $4.5 1000000000 amount deprivation finished the first ennead months of 2009, and the banking giant's credit card nonpayment grade is higher than its big competitors, at 13 pct. Moreover, Bank of America's small-business disposition failure
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