credit cards

Colorado bank rebrands to highlight bigger role in payments


The newly minted Transact Bank will provide payment processing and card issuing services to a wide range of clients.


CFPB urged to take more active role in coronavirus response


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.


Visa says consumer spending has ‘sharply declined,’ even online


The company once again lowered its outlook for quarterly revenue growth, saying the coronavirus pandemic has led to a sharp decline in cardholders’ overseas spending.


CFPB postpones quarterly HMDA reporting


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.


Amid doom and gloom, retail credit card issuer predicts quick recovery


Alliance Data Systems, which has substantial exposure to the mall-based retail sector, sought Tuesday to assuage investors' fears about the impact of the COVID-19 outbreak.


Citi hires card execs from Chase, Apple Card and Amex


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.


What could quell the boom in 0% installment lending


Firms such as Afterpay that offer financing to shoppers have been enjoying rapid growth. But their model is under scrutiny from regulators, being mimicked by credit card lenders and faces heightened risks in a downturn.


As State Farm bows out, U.S. Bank seizes an expansion opportunity


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.


Retail industry upheaval poses challenges for Alliance Data


The Ohio credit card issuer is seeking to rebound following a tumultuous year in which top executives departed and key retail partners declared bankruptcy.


Visa joins Mastercard in cutting revenue outlook on virus impact


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.