Fidelity Investments said it is dropping long-lasting charge card accomplices American Express Co and Bank of America Corp, finishing a 12-year association that has produced billions of dollars in expenses.

Boston-based Constancy, which has 24 million clients, said its new accomplices will be U.S. Bancorp and Visa Inc, compelling Monday. The select union will give Visa marked charge card items to U.S. buyers, including Devotion clients.

The switch is another mishap for American Express, as of now reeling from its lost manage stockroom club retailer Costco Wholesale Corp. AmEx said not long ago the loss of the Costco contract would hurt benefit for a long time. AmEx shares are off 25 percent over the previous year and were down 2.9 percent Monday morning. Numerous other major U.S. money related stocks were additionally lower, with shares of Bank of America, Visa Inc and U.S. Bancorp all around more than 2 percent.

A Bank of America spokesperson said the agreement not to continue the association with American Express was a mutual decision between the two companies.

Bank of America Affiliate Companies

• Bank of America, including:
• Bank of America, NA
• Bank of America Corporation

• Banc of America, including:
• Banc of America Consumer Card Services, LLC
• Banc of America Funding Corporation
• Banc of America Insurance Services, Inc.
• Banc of America Mortgage Capital Corporation

• U.S. Trust, including:
• U.S. Trust Company of Delaware

• Merrill Lynch, including:
• Merrill Lynch Alternative Investments LLC
• Merrill Lynch Capital Corporation
• Merrill Lynch Capital Partners, Inc.
• Merrill Lynch Commodities, Inc.
• Merrill Lynch Commodity Financing Inc.
• Merrill Lynch Credit Products, LLC
• Merrill Lynch Life Agency, Inc.
• Merrill Lynch, Pierce, Fenner & Smith Incorporated
• Merrill Lynch Portfolio Management Inc.

• Brokerage and Investments
• Managed Account Advisors LLC
• First Franklin Financial Corporation

• Insurance and Annuities
• General Fidelity Life Insurance Company
• Meritplan Insurance Company
• Newport Insurance Company

• Real Estate
• KBA Mortgage, LLC

• Other
• BAL Corporate Aviation, LLC
• BAL Energy Holding, LLC
• BAL Energy Management II, LLC
• BAL Investment & Advisory, Inc.
• NationsCredit Financial Services Corporation