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Bank One acquires Wachovia's cards, plans $6B to $9B issuance in 2001

Within three months of re-entering the credit-card securitization market with its First USA portfolio, Bank One Corp. has agreed to purchase the $8.1 billion Wachovia Bank portfolio, $4.5 billion of which is unsecuritized.

"We are out of the go-go growth days' of the credit card business, and Wachovia was...

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