Credit cards
The embattled credit card company, which is bracing for regulatory action, warned Thursday that heavy spending on risk management and compliance will persist. Executives also said that internal and external candidates will be considered for the permanent CEO job.
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Corporations are leaning harder on virtual cards as post-pandemic business travel ramps up amid hybrid work arrangements, according to a new Mastercard survey. Visa separately has extended its collaboration with virtual-card technology provider Conferma Pay.
August 10 -
Credit metrics are deteriorating as more cardholders fall behind on their payments. But bank CEOs detect few causes for alarm, saying they plan to stay in growth mode since most consumers have stayed current.
July 24
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U.S. financial services firms should be paying close attention to the innovative Pix Credit system that is displacing consumer credit cards in Brazil.
July 19 -
The New York megabank benefited duing the second quarter from strong revenue growth in its giant credit card business, which helped overcome headwinds in wealth management and investment banking. But executives indicated that the script could soon flip.
July 14 -
The Supreme Court's decision to strike down billions in debt forgiveness could make it harder for millions of Americans to pay back other kinds of debt. It also threatens to further curtail lending in an already sluggish credit market.
July 3 -
Rising interest rates on loans, greater borrowing and higher fees on deposit accounts all contributed to the increase. "Altogether, this paints a picture of debt that could really start to strain the checkbooks of American families," said Meghan Greene, a researcher at the nonprofit organization that authored the report.
June 25 -
The Simplicity credit card from Citigroup has had staying power, suggesting that a card without late fees can be profitable. Its success shows how the U.S. card market might look different under a controversial CFPB proposal to slash those charges.
June 11 -
The product, designed for wealth management customers, is the first in the U.S. to implement Mastercard's Touch Card, which helps people distinguish credit, debit and prepaid cards through a notch on the card's edge.
May 24 -
Delinquency rates in credit cards, auto and personal loans are effectively back to normal after three years of unusually strong credit performance. Industry executives say the current situation is easily manageable, but they do anticipate that key metrics will continue to worsen.
May 11
