Apple's massive user base, fully digital enrollment system, merchant reach and partnership with Goldman Sachs threaten retail banks on multiple fronts.
Apple's new credit card isn't just another virtual card in its virtual wallet. It borrows a lot of features from the most successful brands in payments and technology.
Capital One Financial Corp. lost data from as many as tens of millions of credit card applications after a Seattle woman hacked into a cloud-computing company server, federal prosecutors in Seattle said.
While loan growth continues to outpace that of competitors, Discover says that it has been tightening its standards, given the late stage of the credit cycle.
The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending.
