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We shall not here repeat the preliminaries concerning
respondent’s determinations and other matters set forth in our
prior reports.
FINDINGS OF FACT
Introduction
Some of the facts have been stipulated and are so found.
The stipulations of facts filed by the parties, with attached
exhibits, are incorporated herein by this reference.
Affinity Card Programs
An affinity credit card program is an arrangement by which
an organization agrees with a credit card issuer that the
organization’s name and logo may appear on a credit card and,
thus, be used to market the card to an affinity group associated
with the organization. The organization receives a small
percentage of total amounts charged on the card.
History of the Affinity Card Program
In 1980, petitioner was approached by Edward Shelton,
president of Shelton Financial Services (Services), who proposed
an affinity card program to petitioner, with a credit card to be
marketed to petitioner’s members and supporters (hereafter,
without distinction, the members). Negotiations between
petitioner and Services continued for almost 6 years. During
that period, Services changed its name to American Bankcard
Services (ABS). On January 10, 1986, ABS submitted to petitioner
a proposal by Chase Lincoln First Bank, N.A. (Chase Lincoln), for
an affinity card program. Among other things, Chase Lincoln’s
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