The card loan portfolio came with a large number of private label deals and catapulted the bank to the third position in the private label card industry after GE and Citigroup.
Caronia, legal challenges based on similar arguments are certain to arise in other circuits, and the Department of Justice will have to evaluate its position on future off-label prosecutions.
In short, the Republican leadership finds itself in a position analogous to that of Episcopal bishops: They own an august label and increasingly empty churches because they have been chasing off the faithful priests and congregations.