credit cards

The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau to do more to aid consumers suffering financial hardship.

The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.

Citi is beefing up leadership in its consumer card lending operations by recruiting Chase exec Pam Habner — credited with engineering the success of Chase’s Sapphire Reserve card — and former Citi exec Chris Fred, who will return after several months running the Apple Card business at Goldman Sachs.

State Farm struggled to make its bet on banking pay off and decided like other insurers to exit the business. U.S. Bancorp swooped in to add deposits and credit card accounts at little cost or risk.

The company said that cardholders’ spending overseas has slowed sharply, especially for travel-related purchases, and that it won’t give a forecast for future quarters until next month.