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DRI/MCGRAW-HILL STUDY NAMES TOP 10 'CREDIT CARD FRIENDLY' STATES IN REGULATORY, LEGISLATIVE AND EMPLOYMENT SURVEY

 WASHINGTON, March 3 /PRNewswire/ -- Ranking the 50 states according to business cost, and the legal and regulatory environment impacting the credit card industry, DRI/McGraw-Hill named the Top 10 "Credit Card-Friendly" states in the country, in a study underwritten by MasterCard International titled, "A Study of Employment, Regulations and the Credit Card Industry."
 This national survey of the credit card industry focuses on credit card industry employment by state, total annual taxes contributed; and the cost, legal and regulatory factors that drive card industry relocation and expansion decisions. According to the study more than 350,000 people are employed directly and indirectly by the credit card industry, contributing nearly $1 billion in state and local taxes alone.
 Charlotte Rush, vice president, public affairs, MasterCard International, said: "For the first time we have a study that examines and compares in a comprehensive way the extremely complex and varied state regulatory and operating environments in which card issuers must operate.
 "We salute the Top 10 states identified by DRI/McGraw-Hill for having the foresight to establish consumer lending laws which make it possible for card issuers to provide more options to their customers while bringing rapid growth in credit card industry jobs to card- friendly' states," Rush said.
 The top 10 states ranked by DRI/McGraw-Hill on the basis of their attractiveness to bank and non-bank credit card issuers are:
 1. South Dakota
 2. Nebraska
 3. Delaware
 4. Utah
 5. Florida
 6. Arizona
 7. Virginia
 8. Nevada
 9. Ohio
 10. Georgia
 Gordon Greenfield, senior associate, DRI/McGraw-Hill said, "The location of credit card employment is dynamic in nature -- many states have deregulated in order to attract these jobs which have higher than average salaries, are environmentally attractive and do not necessarily require college degrees."
 According to the DRI/McGraw-Hill study, in the early 1980s Delaware, South Dakota and Ohio led the way toward attracting credit card industry jobs. More recently, however, states such as Virginia, Arizona and Utah have initiated a new round of consumer lending deregulation in order to attract card issuers and card industry jobs.
 For more information on the study and its findings, contact David Wyss, research director, or Gordon Greenfield, senior associate, DRI/McGraw-Hill, 617-863-5100.
 -0- 3/3/93
 /CONTACT: Charlotte Rush of MasterCard International, 202-828-8820, or David Wyss or Gordon Greenfield of DRI/McGraw-Hill, 617-863-5100/


CO: MasterCard International; DRI/McGraw-Hill ST: District of Columbia IN: FIN SU:

IH -- DC002 -- 2295 03/03/93 08:59 EST
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Date:Mar 3, 1993
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