News Topic: credit cards

Fears about regulators coming down on digital currency trading caused an epic crash in the market this week. But reining in this evolving asset class won't be easy. ... Read full article

A string of cobrand credit card wins is getting expensive for American Express Co. ... Read full article

The two banks' tax reform expectations differ as they move in opposite directions; bank bows to pressure to report pay discrepancies. ... Read full article

Outstandings top 2008 high mark, prompting some concerns; big banks are expected to take $31 billion in writeoffs from fourth quarter earnings due to tax reform. ... Read full article

Petal has received a $13 million funding round from Valar Ventures, a New York-based venture capital fund that specializes in financial technology, to use artificial intelligence to fill holes in legacy risk vetting. ... Read full article

The McLean, Va., company said that the personnel moves were unrelated to either its financial performance or its risk performance. ... Read full article

The late-payment rate on loans frequently used to consolidate credit card debt hit its highest level in more than four years. ... Read full article

The milestone marks the end of a seven-year-long recovery in the credit card market that followed the Great Recession. ... Read full article

Dueling blockchain stories — one arguing it was virtually useless, the other saying it could change real estate lending — seized the top spots this week, while readers also focused on tax reform aftermath and a key Senate retirement. ... Read full article

Merchants have been challenging surcharge bans in numerous states on free-speech grounds. They have the wind at their backs following another court victory on Wednesday. ... Read full article

Credit card debt hit $807 billion in the fourth quarter of 2016, with consumer balances on average exceeding $4,800, according to a report released by the Consumer Financial Protection Bureau. ... Read full article

Both in dollar and transaction volume, credit card use is growing at a faster pace than debit use. Much of the growth is coming from affluent consumers who value rewards like 2% cash back on purchases. ... Read full article

Companies like Visa and Mastercard make decisions about security in secrecy, without enough input from banks and merchants. ... Read full article

Bank allegedly “seriously breached” anti-money laundering rules; mortgage agencies will be permitted to retain $3 billion capital buffer. ... Read full article

Bank of Canada governor says digital currencies could cause “significant disturbance”; JPM testing quantum computing's abilities. ... Read full article

In a year of political upheaval and weak commercial credit growth, lenders sought to capitalize on an economic bright spot — consumer spending — by reviving the personal loan, allying with fintechs and exiting traditional business lines that no longer made ... Read full article

The long-running slide in mortgage payments 60 or more days past due will continue next year, and perhaps even longer as borrowers benefit from favorable economic conditions. ... Read full article

Assemble allows Mastercard partners or issuers to provide checking, budgeting and payment features, as well as additional money management. ... Read full article