Wachovia CEO Elected Chairman of The Clearing House

G. Kennedy Thompson, chairman and chief executive officer of Wachovia Corporation, has been elected Chairman of the Board at The Clearing House. Commenting on the news, Thompson said: ‘This is a critical time for The Clearing House and the payments industry in general. We’re undergoing some fundamental changes as payments migrate from paper to electronic, regulations become more complex and new competitors enter the marketplace.’

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