By Michael Liedtke, Associated Press
Washington Mutual Inc., the nation’s largest savings and loan, said Monday it is expanding into the credit card business by buying Providian Financial Corp., a once-troubled lender that bounced back from the brink of failure to become a prime takeover target.
San Francisco-based Providian has 1,025 employees at its Pleasanton campus, which provides customer service, technical and back-office support. Providian spokesman Alan Elias said he doesn’t expect any layoffs in Pleasanton.
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