- Citigroup (NYSE:C) will become the exclusive co-issuer of Costco's (COST) co-brand credit cards, and Visa (V) will replace American Express (AXP) as the credit card network for Costco in the U.S. and Puerto Rico, beginning April 1, 2016.
- On CNBC as the news hit, AmEx shareholder Warren Buffett: Citi won't get rich off the Costco deal.
- Source: Press Release
- C +0.6%, V +2.4% premarket