The International Standards Organization's approval of a new merchant category code for gun and ammunition sales paves the way for credit card networks to begin flagging suspicious weapons sales to law enforcement agencies.

The average rate on variable-rate cards rose above 18% this week, the highest level since 1996, according to data from Bankrate.com. The industry has been enjoying large profits, which has caught the attention of the Consumer Financial Protection Bureau.

The credit-cards-as-a-service model allows small banks to develop more products — and keep more revenue — than they had when working with agent banks.

Three New York City pensions filed shareholder proposals with Mastercard and American Express urging the credit card companies to improve tracking of gun sales.

Wealthier Americans cut their credit card spending for a third straight month in July as inflation and market volatility weighed on sentiment, according to a study by Bank of America Institute. 

Mastercard is facing pushback from retailers over a new product that allows customers to pay off their purchases in installments. 

In another sign that the pandemic-fueled migration to digital transactions is here to stay, Capital One is dropping a mobile-payment incentive for REI credit card customers as it takes over issuance of the Mastercard from U.S. Bank.

The Chicago-based company, which is the league's exclusive credit card sponsor, sees soccer's young, diverse fan base as a fit for its below-prime products.

Data as of Mar. 31, 2022. Dollars in thousands.

An outage with the issuer's bill payment site unleashed a torrent of complaints on social media and to the Consumer Financial Protection Bureau — even after the company said it had resolved the issue.