Profits at Discover Financial Services fell for the fourth consecutive quarter amid higher compliance expenses and rising funding costs.

General Electric is trying to entice its shareholders to exchange their stock for shares in Synchrony Financial, the spun-off credit card lender.

General Electric plans to ask early next year for relief from heightened regulatory scrutiny, while its former credit card arm says that it won't be subject to the same stress-testing rules as most banks its size.

EMV card technology has fully replaced traditional magnetic stripe cards in virtually all developed countries except the U.S. In these markets, it's proven to be an effective technology to reduce fraud for card-present transactions, forcing fraudsters to migrate to areas that have not adopted a chip-based payment system.

The changes made 10 years ago reduced abusive bankruptcies and made our nation's economy more resilient. If Congress had gone further by regulating attorney fees and increasing penalties for fraud, the economy would be that much stronger.

The reform has returned bankruptcy to its intended function as a last resort for consumers, rather than a way for the wealthy to game the system at everyone else's expense.

The U.S. might be ahead of the rest of the world in some areas of security, but when it comes to protecting against credit card fraud, we're way behind.

Synchrony Financial has received regulatory approval for moves that will let the credit card lender cut ties with its longtime parent, General Electric.

This week marks the fourth anniversary of the "Durbin amendment," a defective law directing the Federal Reserve to impose price-controls on debit interchange fees.

Results from the largest U.S. bank, and the first major player to report on its latest quarter, showed widespread revenue strains and only added to questions about the industry's growth prospects in the near future.