Mastercard has hired Michael Froman, who was a top trade adviser to former President Obama, as the card brand’s vice chairman and president of strategic growth.

Concerned about rising default rates, banks "significantly" tightened underwriting in the first quarter, the Bank of England said in a report published Thursday.

Retail banking chief Christian Sewing will become CEO immediately; higher deposit rates could trim lending margins as banks head into earnings season.

Ann Cairns has been named vice chairman at Mastercard, effective June 1, moving on from her role as president of international markets for the card brand.

The "Global Good Card" from Summit Credit Union has donated nearly $12,000 to the Worldwide Foundation for Credit Unions, and one person leading the charge says the program can easily be exported to other CUs.

New York state's pension funds are urging credit card companies to consider following Citigroup's lead in cracking down on gun sellers.

Late-payment rates at banks declined in nine out of the 11 consumer loan categories tracked by the American Bankers Association, including credit cards, auto loans and personal loans.

The threat that mobile would displace plastic never came to be. But the new technology — often developed by retailers and other nonbanks — nevertheless forced issuers to take stock of their own offerings.

Uber is clearly doing more to get into payments, but is hampered by a heavy regulatory burden and self-inflicted wounds to its brand.

The fintech is partnering with WebBank to offer a normal-rate, unsecured credit card for people with no credit or a thin file. Petal will consider how much money consumers make, the bills they pay on a monthly basis, and trends in volatility in their income and expenses.