Goldman Sachs Group didn’t use discriminatory practices when deciding whether to extend credit to prospective customers of its Apple Card, said the New York State Department of Financial Services.
Large banks that counted on airline and hospitality points to drive loan growth in the credit card business are anticipating renewed demand once safety concerns subside. But they’re also cautioning that the recovery in travel spending is likely to be gradual.
The 14 lenders that dominate U.S. credit cards slashed $99 billion from their customers’ spending limits in 2020, mostly affecting financially troubled households.
After digging deep into member data, Randolph-Brooks FCU in Texas developed a marketing campaign aimed at persuading JPMorgan Chase clients to switch to the credit union's own card. It's an effort its peers could imitate.
