Capital One Financial has begun to lift borrowing limits for certain customers as it seeks to restart growth in its sprawling credit card business.

When bicycle purchases surged during the pandemic as people flocked to new outdoor activities, many bike dealers were frustrated by strained supply chains and tight access to capital.

Unsecured personal lending has fallen as many consumers have stashed away cash and paid down credit card balances during the pandemic. The trend probably won’t reverse course anytime soon.

Wells Fargo is opting to keep its private-label credit card unit after reaching out to potential buyers last year, according to a person with knowledge of the matter.

On Sep. 30, 2020. Dollars in thousands.

Citigroup will refund an additional $4.2 million to some credit card customers who were overcharged years ago.

Credit unions are hoping for a return to normal credit card spending patterns sometime during the second half, but the pandemic has created a domino effect of complicating factors.

On Sep. 30, 2020. Dollars in thousands.

Like other card issuers, the Stamford, Conn., company expects current trends — soft loan demand but strong credit quality — to reverse later this year as the economy emerges from the pandemic-induced recession.

City National Bank is working with the fintech startup Extend to further boost contactless payments at the point of sale for business employees through the launch of a virtual Visa commercial credit card.