Credit card company agrees to settlement

First USA Bank, the nation’s largest issuer of Visa credit cards, has agreed to pay $1.3 million as part of a settlement with New York and 27 other states about the way telemarketing firms sold products and services to the banking company’s customers.

First USA, now doing business as Bank One Card Services, also agreed to police its third-party vendors to prevent deceptive telemarketing aimed at its more than 53 million credit card holders, according to New York state’s Attorney General’s Office.

The settlement announced Tuesday ends a three-year investigation into customer complaints. The investigation showed consumers sometimes were charged on their credit cards for products or services they had no idea they agreed to buy.

Delaware-based Bank One Card Services admitted no wrongdoing in the settlement. Kansas was among the 28 states included in the settlement.

Financial Services: K.C.-based Stilwell, Janus to complete merger

Janus Capital Management’s merger with parent company Stilwell Financial is scheduled to be completed today, giving the Denver-based mutual fund company control of itself after power struggles between the two.

The merger was announced in September. The new company, renamed Janus Capital Group, was scheduled to begin trading on the New York Stock Exchange under the symbol JNS when the stock market opens Thursday.

Kansas City, Mo.-based Stilwell owns about 92 percent of Janus, which manages about $135 billion in assets for 4 million investors worldwide.

The company expects to save $40 million annually by combining operations. Officials have said up to 140 positions will be eliminated, many in the Kansas City area. The companies combined employ more than 1,300 people.

Wall Street: Markets closed today

Financial markets are closed for the New Year’s holiday today. Markets are scheduled to reopen Thursday morning.