Firm will pay $700 million to settle issues stemming from data breach; don’t expect JPM CFO Jennifer Piepszak, or anyone else, to be named heir apparent.

When Amazon was busy driving traffic to its site — and the likes of Walmart and Best Buy were aggressively trying to pull shoppers away — it also invited several issuers to compete to be the top-of-wallet card for Prime Day spending.

After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers.

Even with an economy that has slowed to a "moderate" pace, American Express says U.S. consumers' spending trends remained solid and, in the case of Amex cardholders, they are willing to pay fees for cards that come with the right features.

The credit card issuer reported expense growth that rose faster than net interest income during the second quarter.

The company, which announced the conclusion of a three-year-old credit card partnership with TD Bank, is shifting to digital financing of individual consumer purchases.

The Lutherville, Md.-based credit union returned $1.25 million to members in the first half of the year, on the heels of a $2M payout last year.

Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins.

The Minneapolis bank reported growth across several lending and noninterest income categories in the second quarter, which offset net interest margin pressures and declining deposit service fees.

Respondents rated their chances of reaching the American Dream lower this year than they did in the fall amid talk of a potential recession.