American Express has ankled Governor Michael Leavitt to its Board. Governor Leavitt served as Governor of Utah from 1993-2003.
Driven by MasterCard, payment card profits for the top four networks rose a mere 2.9% in the first quarter, compared to one-year ago. Visa, MasterCard, American Express and Discover reported a combined 1Q/15 profit of $4090 million, compared to $3975 million for 1Q/14.
American consumers are back in the buying mode after ratcheting up revolving credit by $4.3 billion or 5.9% year-on-year (YOY) in March. Total revolving credit for March preliminarily posted $889.4 billion, compared to a revised $885.1 billion for the prior month and $887.5 billion for January.