News Topic: credit cards

Unlike online lenders, banks are focusing primarily on consumers with solid credit scores. But unsecured loans to prime borrowers have a limited track record, so it’s hard to predict how they’ll perform when the economy inevitably weakens. ... Read full article

Adults ages 18 to 29 may have a hard time getting a mortgage, but they are not shying away from other forms of consumer debt, according to a report by the New York Fed. ... Read full article

While JPM won't by the first to offer tap to pay, others may follow; cryptocurrency drops to lowest level of the year. ... Read full article

A new report finds credit unions' edge in satisfaction rates has all but been wiped out, while a separate study finds negative interactions with CU staff could have a big impact on the bottom line. ... Read full article

The former Goldman CEO is said to be the unnamed executive at a meeting with Asian financier; the bank faces multibillion-dollar penalties in two countries. ... Read full article

JPMorgan Chase and Wells Fargo detailed aggressive marketing plans, defended their credit judgments and downplayed the threat of a retailer revolt over high fees on rewards cards. ... Read full article

After the retail giant filed an $800 million lawsuit against its former credit card partner, shares in Synchrony plunged. Now analysts fear its relationship with Sam’s Club may be in jeopardy. ... Read full article

The suit is tied to Walmart's decision to shift its credit card business to Capital One. ... Read full article

Margaret Keane discussed Synchrony's investments in technology, including how the card issuer plans to use customer data to help retailers create targeted ads, during an appearance Tuesday in New York, ... Read full article

Despite improvements in the proportion of consumers without a bank account, there is still work to do to bring more Americans into the banking system, argues FDIC Chairman Jelena McWilliams. ... Read full article

Personal loans are "tricky to underwrite" because consumer credit scores are high at the time of origination and then drift downward, says Roger Hochschild, who recently took over as the head of Discover Financial Services. ... Read full article

Executives offer support to lift investment bankers’ morale; retailer’s move from Synchrony Financial could force card issuers to make concessions. ... Read full article

A smaller provision for loan losses helped counteract declining loan volume and higher expenses during the third quarter. ... Read full article

The Stamford, Conn.-based company reported 9% growth in net interest income and 14% growth in loan receivables during the third quarter, attributing the improvements to addition of the PayPal Credit portfolio in early July. ... Read full article

American Express Co.’s quest to be accepted everywhere from the corner bodega to the nail salon down the street is paying off. ... Read full article

The central bank found that the increase in noncash payments fraud from 2012 to 2015 was still just a small fraction of overall payments. ... Read full article

Citigroup spent years reeling in customers with promotional rates, many of which have expired or soon will. The bank thinks it can keep a large number of those customers and make more money off of them. ... Read full article

Rising wages and savings rates resulted in a decline in past-due payments in the second quarter, the American Bankers Association said in its quarterly report on delinquency trends in consumer lending. ... Read full article