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A big chunk of Indiana's credit card business moved to Ohio last month with the transfer by Bank One, Indianapolis, of its credit card operations to Bank One, Columbus.
The move was the latest in a series of major operational changes that have been instituted at the former American Fletcher Corp. since its merger with the Columbus, Ohio-based Banc One Corp.
But Banc One officials say it's incorrect to think that the streamlining and business consolidations that accompanied the merger are a one-way street leading out of Indiana into Ohio.
Joseph D. Barnette Jr., president and CEO of Bank One, Indianapolis, said the transfer of credit card operations represents the fourth major shift in functions since the merger was consummated last January. However it is only the first time that operational functions have been taken away from Indiana and moved to Ohio, he said.
The transfer of credit card operations could save Banc One Corp. about $1 million a year.
In the other three shifts, operations were moved from Ohio to Indiana.
"One of the concerns in the minds of some was that we were in a sense losing an industry or an identity," said Barnette. "We would hope that now, after six months, those fears have passed."
However, those fears have not passed in the eyes of...