Word: visas
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...Visa and MasterCard have introduced so-called affinity cards for conservation groups. As in credit-card programs that award frequent-flyer mileage on major airlines, the nonprofit organizations receive a small percentage of the bill charged by each new member customer. The Nature Conservancy has taken in $150,000 from MCI since the program began last February, and expects its take to grow to nearly $400,000 annually in the future...
Harvard isn't buying such compromises. Any restriction on immigration or visas would be impermissible, officials there say. In addition, the disclosure requirement for a short-term visa, notes Fein, could put travelers at risk of losing their jobs or insurance and encountering other problems once they return home. Harvard is expected to announce next week its decision to withdraw as host of the June 1992 meeting...
...issuers covet the rich profits that can be reaped from installment credit. Banks that issue general-use credit cards, like the 420 million Visa and MasterCards in circulation worldwide, have been borrowing funds in the U.S. at 9% to 10% interest and loaning those funds out on plastic at as much as 22%. For banks stuck with Third World loans and rancid real estate, that spells salvation. At the 10 largest banks in the business, which hold 48% of all outstanding card debt, credit cards account for 25% of profits. Citibank, the largest issuer, cleared $610 million in profits...
...novelist-poet Carlos Fuentes to speak at Commencement. Fuentes had also been an ambassador to Mexico from France. According to Bliss Professor of Latin American History and Economics John Womack, Fuentes had at one time been suspected of being a Soviet agent by the CIA and was denied a visa to the U.S. during the 1960s...
Mullin, known as Terri to many of her friends, was in England on a six-month British Universities visa, her father said. The visa allowed her to look for employment as a writer...