Fintech

U.S. Bancorp said Friday that it has agreed to sell its majority stake in a Brazilian technology division of its Elavon payments processing subsidiary.

Synchrony Financial reported solid earnings growth in the first quarter thanks to increased use of its credit cards, but the firm's credit performance was slightly weaker.

There's plenty of criticism of the U.S. chip card migration, including its pace, the pressure on merchants to upgrade and the lingering confusion over how to use the cards. But Visa painted a more bullish picture of the migration.

Issuers still have a choice of whether to require PIN authentication for EMV-chip cards, but David Nelms, chairman and CEO of Discover Financial Services, says the chip-and-PIN path increasingly makes the most sense for U.S. payment cards going forward.

American Express is determined to minimize the damage from losing profitable Costco cardholders in Canada and the U.S., and is taking steps to keep as many of those customers in the Amex fold as possible.

Elevations Credit Union, Boulder, Colo., on Thursday said it has agreed to be an employee banking services partner for the City of Boulder, with the city offering access to Elevations' financial services as an employee benefit.

The Pleasanton, Calif.-based credit union said in a news release Thursday that it has reached $5 billion in assets and 300,000 members in 2016.

Experts from across the payments industry gathered in Los Angeles for SourceMedia's annual Card Forum and Expo. Here are some of the biggest ideas discussed at this year's event.

The deadline to participate in the 3rd Annual Best Credit Unions to Work For rankings is coming up soon. Don't miss out on the chance to see how your credit union stacks up against your industry peers.

Discover Financial Services reported higher loan growth in its flagship credit-card business during the first quarter, reversing a trend that the company's leaders had vowed to address.