Some customers reportedly complained about getting locked out of their accounts after signing up for the bank's new Strata Elite credit card. "We feel like we have done the right thing for all of our good customers," Pam Habner, Citi's head of U.S. branded cards, said Tuesday.

Merchants alleged the major card networks illegally conspired to shift fraud liability onto them with the adoption of EMV chip technology.

"We actually see a little bit more strength in the nonprime [consumer]," CFO Brian Wenzel told American Banker.

Habner, Head of U.S. Branded Cards and Lending at Citi, sits down with American Banker Editor-in-Chief Chana Schoenberger to discuss the credit card market.

The CardWorks subsidiary has officially taken over Ally Financial's Ollo credit card portfolio, ending a five-year dance between the two companies that first had Ally buying CardWorks for $2.7 billion.

Stablecoins don't compete with payment platforms. They do, however, provide a turbo-powered springboard for new projects that will, just as incumbents are adapting to the new tools.

Google has launched its Agent Payments Protocol, an open protocol that establishes a payment-agnostic framework for users, merchants and payments in agentic AI. Payment companies such as Adyen, American Express, Mastercard and PayPal helped develop the protocol.

The appointment ends a seven-month search for a permanent CEO. Milotich was named interim CEO in February following the resignation of former CEO and director Simon Khalaf.

Founder and executive chairman Edward Nigro will step back into the top executive spot after Ryan Sullivan informed the company he didn't plan to renew his employment contract.

Self Financial sees earned wage access as the perfect complement to its suite of credit building products. It's the latest example of EWA being paired with broader financial wellness products.

The online gambling operator, which was recently fined $450,000 by Massachusetts regulators, indicated that its new policy is designed to protect customers from cash-advance fees.

Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.

Direct-to-consumer earned wage access provider EarnIn is rolling out Live Pay, a service that "streams" consumers' paychecks via a Visa card. It's a model banks could replicate.

The card network said inflation remains in check and any impacts of Capital One moving cards to the Discover network will be muted and delayed until 2026.

JPMorganChase and Apple are reportedly close to an agreement that would see the country's largest bank take over the Apple Card portfolio from Goldman Sachs.

International remittances are a key use case for Visa's stablecoin strategy, CEO Ryan McInerney said during its fiscal Q3 earnings call with investors. They also pair nicely with Visa Direct, the company's instant payment scheme, he said.

Mounting liabilities are raising the stakes for an economy that has come to rely more and more on high-end consumer spending to power expansion.

Bread Financial continues to keep its eye on the potential inflationary impacts of the Trump administration's trade policies, despite the fact that its delinquencies and losses declined in the second quarter.

The credit card issuer renewed and extended its 15-year partnership with Amazon and touted fresh partnerships with Walmart and PayPal as wins, but lowered its full-year guidance due to lower purchase volumes and higher payment rates.