credit cards

Coronavirus crisis plays to the strengths of secured credit cards

07/13/20

With the COVID-19 health pandemic wreaking havoc on jobs, investments, consumer debt and lending, secured credit cards can address a vital need for people who may not have considered the product in the past.

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A second chance for rejected Apple Card applicants

06/29/20

Goldman Sachs, the card’s issuer, has rolled out a new program in which it will provide personalized advice to consumers with marred credit profiles in hopes of making them customers down the road.

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Mastercard to buy Finicity to improve open banking services

06/23/20

Mastercard has agreed to acquire Finicity for a reported price of $825 million, a move the card brand says will strengthen its open banking platform and expand financial services through more real-time access to data.

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New Verizon credit card reflects shifts in consumers’ spending habits

06/22/20

With Americans traveling less due to the pandemic, the card, issued by Synchrony, is tailoring rewards to everyday purchases, such as groceries. It also has a contactless feature that could appeal to shoppers fearful of touching terminals.

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Mom-and-pop shops left holding bag in consumer card disputes

06/12/20

Payments processors are keeping a portion of payments as a reserve against potential disputes between cardholders and merchants. Small-business owners say the practice is eating into their profits.

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Card issuers cut back on 0% offers; shift to mobile could speed branch divestment

06/08/20

Banks are looking to reduce their consumer credit risk exposure in the face of high unemployment; the drop in branch transactions is causing banks to rethink how many they need.

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Fiserv sees existing credit lines as cure for PPP limitations

06/05/20

The race to provide coronavirus relief for small businesses is opening new routes to fund payments, including underused credit lines.

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Credit card lenders clamp down to mitigate coronavirus risk

05/29/20

Since March, issuers have tightened their criteria for opening new accounts and closed millions of existing ones in hopes of avoiding waves of defaults.

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5 ways the CFPB has eased industry’s coronavirus burden

05/18/20

The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.

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Amex CEO says most employees will work remotely for the year

05/18/20

American Express Chief Executive Steve Squeri said a majority of the company’s employees will work remotely through 2020 as it seeks to slow the spread of the coronavirus.

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