American Express Seeks Bank Cards

Just days after a favorable court ruling, American Express Co., said it was working on agreements to get its cards issued by U.S. banks by the middle of next year.

The 2nd U.S. Circuit Court of Appeals upheld a lower court ruling requiring Visa USA and MasterCard International to drop rules that prohibit their member banks from issuing cards from American Express, Discover and other rivals.

Visa and MasterCard have said they would appeal the ruling. American Express Chairman and Chief Executive Kenneth I. Chenault called that “no more than a delaying tactic.”