News Topic: credit cards

Amer Sajed, a 56-year-old Pakistan-born immigrant to the U.S., will step down from his role leading the bank’s credit card business in July after being spurred into activism by President Trump's stances on social and other issues. ... Read full article

Republicans repeatedly claim that the Dodd-Frank Act has hurt consumers by raising costs and hampering credit availability. But the data doesn't back that up. ... Read full article

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms. ... Read full article

Lost in the battle between banks and retailers — which is being fought with renewed vigor in the early days of the Trump administration — is any consideration of how caps on interchange fees have affected consumer spending patterns. ... Read full article

On Sept. 30, 2016. Dollars in thousands. ... Read full article

The number of new checking accounts at the embattled Wells Fargo fell by double digits year over year, and account closures remained brisk. Yet the figures on credit card applications were worse. ... Read full article

The cards could prove to be popular with Americans who travel frequently to Asia. ... Read full article

CFO John Shrewberry projects that legal costs and other expenses related to the scandal will swell to between $50 million and $60 million and remain at that level for the next several quarters. ... Read full article

Consumers will be able to avoid manually entering a full account number on a mobile screen. ... Read full article

On Sept. 30, 2016. Dollars in thousands. ... Read full article

Total loans rose 7%, but the provision for loan losses jumped 27% to $1.7 billion. ... Read full article

Strong loan growth was partially offset by rising delinquencies in its flagship credit card business, as well as in student and personal loans. ... Read full article

Credit card issuers usually reserve their richest rewards for customers at the higher end who are willing to pay steep annual fees. But a recent surge in credit card rewards deals targeting mainstream consumers signals a key strategy shift for issuers. ... Read full article

The Stamford, Conn., credit card issuer reported net income of $576 million, up 5.3% from the same period a year earlier. ... Read full article

American Express Co., the largest U.S. credit-card issuer by purchases, said fourth-quarter profit fell 8.2 percent as expenses exceeded analysts’ estimates and the firm set aside more money to cover bad loans. ... Read full article

Michael Corbat told analysts Tuesday that Citi will no longer report Citi Holdings, its erstwhile "bad bank," as a separate entity. ... Read full article

SoftBank's big bet on next-generation tech; Supreme Court hears surcharge arguments ... Read full article

Colleges are courting the Devil - the Debit Card Devil. ... Read full article