In a move to tap into an underserved market opportunity — but with the potential for political backlash — Sallie Mae launched three different cash-back reward credit cards aimed at college students and young adults. ... Read full article
Here are seven startups that received multimillion-dollar venture capital investments in recent weeks to accelerate the development of banking products and services. ... Read full article
The startup now has five bank partners and equity financing from four investment entities. ... Read full article
The Consumer Financial Protection Bureau said it did not issue an additional penalty because Citibank self-reported that it failed to reduce interest charges for 1.75 million credit card customers. ... Read full article
American Express is falling in line with Mastercard and Discover in eliminating the signature requirement for authorization on all card transactions at the point of sale, starting in April of 2018. ... Read full article
In a surprise move, the Supreme Court will decide whether Amex may bar merchants from steering customers to less expensive card networks. The card issuer will have to prove the consumer gain from its practices outweighs the merchant pain. ... Read full article
The Trump administration is stepping away from the government’s 7-year legal fight with Amex that centers on retailers’ right to encourage the use of particular cards. The decision is good news for issuers of credit and debit cards, though it is hardly the ... Read full article
