Record volumes in the domestic travel and entertainment category helped
Visa U.S.A. registered $49.4 billion in card volume for such services as
Thomas C. Edwards, Visa U.S.A.'s senior vice president of travel and
A MasterCard spokesman cited the New York-based association's
Visa, based in San Francisco, saw its greatest advance in restaurant
MasterCard also achieved big gains in the dining sector, improving from
Lodging volume for MasterCard totaled $8.34 billion last year, up 15%
The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
