Loyalty and rewards

FDIC looks to ditch call reports; Wirecard’s long-time auditor under fire


The agency wants more timely information on the banks it supervises; investors filed a criminal complaint against Ernst & Young, calling their work “a disaster” for failing to expose the scandal.


Mastercard makes open banking move; Cross River Bank shines in PPP lending


The payments company is buying Finicity, which powers platforms for Rocket Mortgage and others; the small N.J.-based lender to fintechs is the fourth largest PPP provider.


New Verizon credit card reflects shifts in consumers’ spending habits


With Americans traveling less due to the pandemic, the card, issued by Synchrony, is tailoring rewards to everyday purchases, such as groceries. It also has a contactless feature that could appeal to shoppers fearful of touching terminals.


Marriott gets $920 million in card deals with AmEx, Chase


Marriott International Inc. raised $920 million in cash through deals with co-branded credit card companies as it rides out the pause in travel due to the coronavirus.


American Express prepared for a downturn—but not like this


"We're now in a different world," Stephen Squeri, chairman and CEO of Amex, said during the card brand's first-quarter earnings call.


Wells Fargo aims for top of digital wallet with $5 bonus


Wells Fargo hopes to anchor its debit card at the top of customers’ digital wallets with a promotion offering users a $5 credit.


Why more issuers see profit in secured credit cards


Ally Financial's recently announced $2.65 billion cash-and-stock deal for CardWorks, which offers unsecured credit cards among other products, places a high price tag on a traditionally risky product.


CRA overhaul may get messy; Student loans vulnerable in bankruptcy


Fed proposal is at odds with the one offered by the FDIC and OCC; judge wants to dispel the “myth” that student loans can’t be expunged in bankruptcy.


JPMorgan boosts annual fee on Chase Sapphire Reserve card


JPMorgan Chase is boosting the annual fee for customers to $550 from $450 as it adds new perks with partners such as DoorDash and Lyft.


'What could possibly go wrong?': Comments of the week


Readers react to the FDIC's proposal allowing banks to hire ex-cons, regulators looking into climate-change risk at banks, whether rewards programs drive loyal customers and more.