News Topic: credit cards

Rather than receiving a lump-sum payment from the online lender, borrowers can now choose to have the proceeds of a debt consolidation loan sent to the companies they owe. ... Read full article

The move figures to generate more low-cost funding for the firm’s consumer lending businesses without sacrificing substantial revenue. ... Read full article

State and local officials have pushed back against retailers that don’t take cash, and now some are pressuring electric vehicle firms to expand payment options at charging stations. ... Read full article

Rep. Katie Porter is butting heads with Jamie Dimon again. The Democrat from California claims the bank’s new policy of making credit-card customers use arbitration instead of the courts to resolve payment disputes violates her state’s laws. ... Read full article

JPMorgan Chase & Co. said it won’t shut the accounts of credit-card customers who reject a new policy of using arbitration instead of the courts to resolve payment disputes. ... Read full article

The large credit card issuers are becoming more selective about who they are extending credit to and how much they are willing to lend, their CEOs said Tuesday. ... Read full article

The ride-sharing heavyweights Uber and Grab built their markets by making payments seamless, and their expansion plans are similarly hooked into improving payments and other financial services. ... Read full article

Targeting consumers with poor or thin credit, Amazon is offering a secured card with rewards on par with those offered to mainstream cardholders. ... Read full article

Mark Graf, who joined the Riverwoods, Ill.-based credit card issuer in 2011, will participate in the search for his successor. ... Read full article

JPMorgan Chase & Co., the biggest U.S. credit-card issuer, is reviving a controversial policy that forces credit-card customers to use arbitration instead of court to resolve payment disputes. ... Read full article

Uber Technologies Inc. is going nationwide with a program that helps those without a car — or the financial means to get one — drive for the ride-hailing giant. ... Read full article

More than 66% of the banks reported a jump in net income during the first quarter but new risks are emerging in interest rates and underwriting, the Federal Deposit Insurance Corp. said Wednesday. ... Read full article

The bank dropped out of the bidding for the card over profitability fears; returning to the market could boost Barclays' investment bank. ... Read full article

Online lenders now have close to 40% of the unsecured personal loan market, much of which is refinanced credit card debt. Banks' card portfolios are taking a hit. ... Read full article

"Institutional support" spurs cryptocurrency price gains; the regulation limits what banks can charge for going negative on accounts. ... Read full article

It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed. ... Read full article

The legislation from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez is part of an effort to shift the range of what is thinkable in Washington to the left. It may also serve to highlight the vulnerabilities of Democrats with bank-friendly records. ... Read full article

On Dec. 31, 2018. Dollars in thousands. ... Read full article