News Topic: credit cards

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Capital One Financial led a $170 million investment in the startup Hopper as the financial giant seeks to make a deeper push into travel. ]] ... Read full article

Goldman Sachs Group didn’t use discriminatory practices when deciding whether to extend credit to prospective customers of its Apple Card, said the New York State Department of Financial Services. ]] ... Read full article

Large banks that counted on airline and hospitality points to drive loan growth in the credit card business are anticipating renewed demand once safety concerns subside. But they’re also cautioning that the recovery in travel spending is likely to be ... Read full article

The 14 lenders that dominate U.S. credit cards slashed $99 billion from their customers’ spending limits in 2020, mostly affecting financially troubled households. ]] ... Read full article

After digging deep into member data, Randolph-Brooks FCU in Texas developed a marketing campaign aimed at persuading JPMorgan Chase clients to switch to the credit union's own card. It's an effort its peers could imitate. ... Read full article

There are signs that participation in cardholder loyalty offerings is slipping. Credit unions must reengage members if they hope to retain those accounts. ... Read full article

The operation will employ 1,000 people in a predominantly Black community. The move is part of the city's push to create job opportunities beyond the downtown area. ... Read full article

In adding Goldman Sachs veterans Omer Ismail and David Stark, the retail giant can enhance products such as Walmart Pay, Walmart+ and its fintech pact with Ribbit Capital. ... Read full article

Capital One Financial has begun to lift borrowing limits for certain customers as it seeks to restart growth in its sprawling credit card business. ... Read full article

Unsecured personal lending has fallen as many consumers have stashed away cash and paid down credit card balances during the pandemic. The trend probably won’t reverse course anytime soon. ... Read full article

Wells Fargo is opting to keep its private-label credit card unit after reaching out to potential buyers last year, according to a person with knowledge of the matter. ... Read full article

Citigroup will refund an additional $4.2 million to some credit card customers who were overcharged years ago. ... Read full article

Credit unions are hoping for a return to normal credit card spending patterns sometime during the second half, but the pandemic has created a domino effect of complicating factors. ... Read full article

Like other card issuers, the Stamford, Conn., company expects current trends — soft loan demand but strong credit quality — to reverse later this year as the economy emerges from the pandemic-induced recession. ... Read full article

Allowing employees to work from home until the holiday will give Amex the chance to monitor the speed with which vaccines are distributed, CEO Stephen Squeri said in a memo to workers. ... Read full article