Cards

Bank of America, Citigroup, HSBC and others are increasingly using sustainable and recycled materials for manufacturing

Westpac, Capital One and JPMorgan Chase are offering savings accounts and debit cards to children below 10, using financial literacy to get an edge in building consumer relationships.

The prepaid card firm and banking-as-a-service provider extended its contract with its largest BaaS client in Q2 despite a July consent order from the Federal Reserve.

The payment option has grown beyond underbanked consumers. For issuers, a $1 trillion market is at stake.

Stearns Bank in Saint Cloud is working with the on-demand payment technology firm Reset to launch an earned-wage card for blue collar and immigrant families struggling with access to money.

GLS had already stopped issuing first-use plastic as of 2018, but it wasn't enough for the eco-minded German bank. Fake plastic still looks and feels like plastic.

Through a partnership with technology firm ServiceNow, the card network is offering ways to reduce banks' cost and complexity of resolving disputed transactions.

Delinquencies and charge-offs are set to climb over the next several months, as lenders tighten underwriting policies and credit lines while facing downward pressure on late-payment fees.

Michael Rhodes, who has spent the last dozen years in various executive roles at TD Bank Group, will become president and CEO of Discover Financial Services. The move comes four months after the unexpected departure of Discover's longtime CEO Roger Hochschild.

Visa, Mastercard, SAP, Circle and many other financial firms are launching digital card accounts with an emphasis on B2B clients.

Roy and Bertrand Sosa have retaken control of Netspend to combine it with their other firm, Rev Worldwide, to build the companies into an international financial services provider.

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.

Retailers fed up with interchange are trying numerous strategies to offset these costs, including piloting Pay by Bank use cases and even, in some cases, refusing to accept cards altogether.

The Federal Reserve, which currently faces a Supreme Court case related to the fees, will vote on a proposal next week that will likely open up a rulemaking process to lower debit card interchange fees. 

In search of new revenue streams, the card network has researched companies' working-capital and cash-flow headaches to see where it could play a bigger role.

Affirm is the latest BNPL lender to launch an in-store payment card with multiple financing options, giving consumers more checkout options as regulatory changes loom.

Visa Inc. is facing fresh scrutiny from the US Justice Department over how it charges merchants for technology it uses to protect cardholder information.

The Consumer Financial Protection Bureau is warning that excessive fees can chip away at the cash sent to the most vulnerable consumers who opt to receive Social Security and other public benefits via prepaid cards.

The American Bankers Association, Credit Union National Association and other industry advocates say the current July 1 deadline threatens the safety and soundness of banking sector.