News Topic: credit cards

Agency concerned about the number of "risky" mortgages being approved; Brian Kelly, who runs The Points Guy website, can determine if a card succeeds or fails. ... Read full article

The upstart lenders have been chipping away at credit cards’ consumer-lending dominance by offering fixed-rate loans with predictable repayment plans. Now the card giants are fighting back. ... Read full article

U.S. credit card debt hit $870 billion — the largest amount ever — as of Dec. 31, according to data from the Federal Reserve. Credit card balances rose by $26 billion from the prior quarter. ... Read full article

On Sep. 30, 2018. Dollars in thousands. ... Read full article

The move by Kroger Co. comes in response to rising interchange fees on Visa's premium credit cards. The cards will be banned at 142 Smith's stores in the western U.S. ... Read full article

The foray into digital consumer lending follows a similar move by rival Citigroup. ... Read full article

The bank said in its annual report that anticipated store closings could reduce both new account acquisitions and purchase volume. ... Read full article

City sues seven banks for alleged price fixing on floating-rate bonds; analyst says “the most negative revelations are yet to come” in the 1MDB scandal. ... Read full article

The move, reported by The Wall Street Journal, could be part of a deeper foray into cobranded cards by Goldman, which has been expanding into consumer finance through its Marcus unit. ... Read full article

The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue. ... Read full article

While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening. ... Read full article

The moves are aimed at beefing up consumer lending and attracting deposits in markets where Citi has no branch presence. ... Read full article

Though banks are generating more revenue from interchange and annual fees, those gains have been offset by declines in income from cash advances and late fees. ... Read full article

On Sep. 30, 2018. Dollars in thousands. ... Read full article

Discover leaned heavily on rewards to drive new card acquisitions and sales growth in the fourth quarter, but suffered a double whammy of rising reward costs and higher charge-offs, causing it to miss analyst earnings expectations. ... Read full article

Proposals that would have financial firms monitor or refuse to finance certain firearms purchases are misguided, putting the onus on unelected corporations. ... Read full article

Delinquencies, which are on the rise across financial services, clouded an otherwise solid quarter for Discover Financial Services. ... Read full article

In selling its Walmart credit card portfolio to Capital One and extending a partnership with Sam’s Club that appeared to be in peril, Synchrony Financial avoids an expensive legal battle with the world’s largest retailer. ... Read full article