Carter Hawley Hale loses charter needed for new credit card unit.

Carter Hawley Hale loses charter needed for new credit card unit

Federal regulators rescinded the national bank charter approval that Carter Hawley Hale Stores Inc. needs to operate a consolidated credit card operation in Tempe, Arizona.

Los Angeles-based Carter Hawley has been planning to consolidate its credit card operations and move them to Arizona for about the past 14 months, but the move was hampered by the company's bankruptcy declaration Feb. 11. Establishing a national bank would be a technicality that would allow Carter Hawley to be exempt from complying with certain state finance charge regulations in the state.

"Our intention, though, is to continue to look at the possibility of getting a national bank charter, and we plan to hold discussions with federal regulators to accomplish it," said Carter Hawley spokesman Bill Dombrowski.