Firm will pay $700 million to settle issues stemming from data breach; don’t expect JPM CFO Jennifer Piepszak, or anyone else, to be named heir apparent.
After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers.
The company, which announced the conclusion of a three-year-old credit card partnership with TD Bank, is shifting to digital financing of individual consumer purchases.
Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins.
The Minneapolis bank reported growth across several lending and noninterest income categories in the second quarter, which offset net interest margin pressures and declining deposit service fees.
Huntington, Capital One and Citi are tops with consumers, but overall satisfaction scores have declined as users have been overwhelmed by the constant rollout of new features.
Citigroup will be the first major issuer to use Mastercard technology to give U.S. credit card holders the ability to instantly redeem points on eligible purchases online and through a mobile app.
A customer who sued Chase over credit card interest charges is now asking a judge to order the bank to stop notifying cardholders about its plan to reinstate arbitration.
