News Topic: credit cards

The broadening of JPMorgan's Sapphire Reserve brand is emblematic of the niche expansion megabanks must rely on since bank M&A is not an option. ... Read full article

The Minneapolis bank is betting that it has the heft — and the brand recognition — to compete for deposits in states where its biggest rivals already dominate. ... Read full article

Small and midsize banks are most at risk as commercial loan volume fails to ignite; the cutbacks are partly the result of lower origination volume. ... Read full article

Upgrade, a marketplace lender founded by Laplanche just a few months after he was ousted from LendingClub, has secured more than $100 million in equity capital and says it is poised to offer more consumer credit products. ... Read full article

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

The bank said it has received subpoenas related to low-income housing tax credits; write-offs of bad credit card debt creep up. ... Read full article

Domestic card growth has not lived up to the bank’s expectations, even after its Costco coup. So it is making changes here to get product development, payments technology and card portfolio management on the same page worldwide. ... Read full article

Happy Money and Arcus have joined a pack of fintechs and online lenders urging customers to forego expensive credit card debt, in this case calling it a "sad spend." ... Read full article

The card issuer Synchrony will continue to manage three cards for the national hardware chain. The timing is good as Synchrony recently lost a deal issuing cards for Walmart. ... Read full article

Anand Selva, a long-time Asia hand, will head up U.S. consumer banking; several startups are backed by traditional card issuer veterans. ... Read full article

Citigroup Inc. is restructuring its consumer-banking operation in a shake-up that includes the departure of its global credit-card chief. ... Read full article

U.S. authorities are forced to take action on some shady dealings up north; the Systemic Risk Council says weaker capital rules could deflate bank equity. ... Read full article

Sensing an opportunity in the small business credit card market, Stripe is setting out to outflank big banks by offering APIs to enable its clients to issue their own physical and virtual credit cards. ... Read full article

Hochschild, the current president and chief operating officer, has been with Discover for 20 years, and will retain his title as president upon assuming the CEO role on Oct. 1. Nelms (pictured) will continue as executive chairman until his retirement early ... Read full article

The trend poses challenges for banks, which have long required customers who want fees waived to put in their own effort. ... Read full article

Stock options offered employees during the financial crisis are now worth $3 billion; the JPM CEO says he talked with Jeff Bezos about a job two decades ago. ... Read full article

As memories of the financial crisis fade, consumers are back to their old spending and saving habits — and that could be a big problem. ... Read full article

The announcement follows a news report that said it routinely and without notification charged higher rates than it initially quoted. ... Read full article