News Topic: Margaret Keane

The CEOs of the credit card lenders Discover and Synchrony are urging Congress to come through with another round of government stimulus so that struggling households can continue paying their bills. ... Read full article

The lender behind the credit cards for Gap, J.C. Penney and other retailers took a large provision for loan losses and abandoned full-year earnings guidance as the nationwide shutdowns tied to the coronavirus pandemic have led to a sharp decline in ... Read full article

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. ... Read full article

Brian Doubles, who had been chief financial officer, will continue to report to CEO Margaret Keane in the newly created role. ... Read full article

There’s currently a focus on investing in technology and data to remain competitive, but financial firms also need to ensure they are helping workers adapt, argues Synchrony’s Margaret Keane. ... Read full article

The bank and card program provider is starting to use AI in many areas, but it's also trying to build paths forward for employees whose jobs will be affected. ... Read full article

In selling its Walmart credit card portfolio to Capital One and extending a partnership with Sam’s Club that appeared to be in peril, Synchrony Financial avoids an expensive legal battle with the world’s largest retailer. ... Read full article

The accounts — which eschew paper checks and overdraft protection — appeal beyond the low-income customers they were intended for; lenders are embracing artificial intelligence systems to analyze more data to determine creditworthiness. ... Read full article

Amid negotiations with Synchrony Financial over the potential purchase of a $10 billion portfolio, Capital One's Richard Fairbank indicated Wednesday that he is willing to walk away. ... Read full article

Synchrony CEO Margaret Keane says plastic cards will be gone in five years; David Tyrie is succeeding the high-profile Michelle Moore as BofA's digital chief; Fed outlines a new approach for its post-crisis supervisory program; and more from this ... Read full article

Margaret Keane discussed Synchrony's investments in technology, including how the card issuer plans to use customer data to help retailers create targeted ads, during an appearance Tuesday in New York, ... Read full article

The Stamford, Conn.-based company reported 9% growth in net interest income and 14% growth in loan receivables during the third quarter, attributing the improvements to addition of the PayPal Credit portfolio in early July. ... Read full article

The Stamford, Conn., issuer of store credit cards has two potential options after the retail giant chose to partner with Capital One. But the decision over which path to take is out of its hands. ... Read full article

Synchrony ultimately bought $7.6 billion of loan receivables, including $800 million in loan participations that had not been part of the original deal. ... Read full article

The Stamford, Conn.-based credit card issuer saw improvement in late payments by its customers, but the pace of loan growth also slowed during the fourth quarter. ... Read full article

The deal for PayPal’s consumer loan portfolio will make Synchrony a bigger player in e-commerce. And the agreement helps the Silicon Valley payments giant achieve its goal of reducing its exposure to the credit cycle. ... Read full article

The store-branded credit card issuer reported that more borrowers fell behind on their payments in the third quarter. Still, net earnings were stronger than expected. ... Read full article

Synchrony Financial and Alliance Data Systems are particularly vulnerable to recent shifts in Americans’ shopping habits, according to new research from Moody’s Investors Service. ... Read full article