Dee Hock is the founder and former CEO of the Visa credit card association. In 1968, Hock was an official of a local bank in Washington State that was franchised by the Bank of America to issue its credit card brand, Bank America card. Through a series of unlikely accidents, Hock helped invent and became chief executive of the credit system that became VISA International.
Early on, he convinced Bank of America to give up ownership and control of their Bank America card credit card licensing program, forming a new company, National Bank America, that was owned by its member banks. The name was changed to Visa in 1976.