Amalgamated Trust & Savings Bank, which traditionally hasemphasized commercial and trust operations, is moving fast forwardinto the retail side of the business.
Amalgamated, a downtown bank with a mere $308 million in assets,this week launches a credit card operation designed to lure moreretail customers to the bank with low-rate cards.
Because the cards offered by Amalgamated do not carry annualfees and they carry lower annual percentage interest rates thancompeting cards, Amalgamated could cut into the local market share ofthe bigger and more established operations.
Amalgamated's program, announced in February, already hasattracted more than 2,000 …
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