Fintech

The San Antonio bank reported a 14% increase in noninterest expenses and a 7% jump in loans. "We're not trying to be successful by shrinking," said CEO Phil Green.

The credit card company has been seeing late payments and charge-offs jump following the stellar credit trends of the pandemic. But there were signs last quarter that the picture has started to stabilize.

There are three concrete steps policymakers and industry can pursue that will limit the damage that is being done by cutting vulnerable populations off from remittance payments.

Taylor Swift's tie-up with the third-largest bank in Singapore propelled the lender's credit card fees to a record in the third quarter, the latest example of the pop star's extraordinary economic heft.

Banking executives anticipate that loan demand will remain muted over the next 12 months, according to a new survey by the financial services firm IntraFi. That finding lines up with bankers' expectation that rates won't start declining until at least the second half of 2024.

Speaking on a panel at the Future Investment Initiative summit in Riyadh, Saudi Arabia, the JPMorgan Chase chief voiced doubts that central banks and governments around the world could manage the economic fallout from rising inflation and slowing global growth.

Commonwealth Bank of Australia is examining how it can use generative artificial intelligence to simulate customers testing products, and U.S. Bancorp's Elavon unit receives a financial services license from the Bank of England.

Giving merchants the option of passing on the rewards-related element of credit card swipe fees to consumers would radically rewrite the rules of payments competition.

The credit-card issuer is tightening its lending standards and bracing for the potential effects of a cap on card late fees. Charge-offs are rising, but company executives say that customers are showing surprising strength.

The bipartisan proposal aims to save consumers money by forcing more competition in the lucrative credit card payments processing business. If enacted, it would result in "unbelievable" consumer backlash from its effect on rewards programs, Delta Chief Executive Officer Ed Bastian said.