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NEEDHAM, Mass., Nov. 24 /PRNewswire/ -- Leading research and advisory firm TowerGroup today issued the following commentary about private label store gift cards, whose popularity is plummeting. The reduction in card spending is reflective of a weakened economy, decreased holiday sales and less confidence in retailer inventories and stability. TowerGroup expects store gift card spending volume to fall by 7%, with a modest increase of 3% in general purpose cards in 2009.
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NEEDHAM, Mass., Aug. 13 /PRNewswire/ -- New research from TowerGroup finds that debit cards are far more resilient in the current recessionary economy than credit cards. In less than 15 years, debit card transactions in the United States grew from 1 percent of noncash transactions to more than 50 percent. TowerGroup predicts that debit card transaction volume and card spend will grow through 2015, through the current recession and ensuing economic recovery.
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By Dan BalabanNovember 18 -
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Asset-backed securities-aside from mortgage-backed bonds-remain vital to the health of financial institutions. The Federal Deposit Insurance Corporation has reported that U.S. credit card issuers rely on ABS financing to provide more than 50 percent of their capital needs, according to a TowerGroup report.
By Joseph RostaNovember 7 -
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