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.

Allowing employees to work from home until the holiday will give Amex the chance to monitor the speed with which vaccines are distributed, CEO Stephen Squeri said in a memo to workers.

Walmart’s warehouse unit Sam’s Club is introducing digital features and new rewards tiers to modernize its Synchrony-issued Mastercard.

Capital One Financial is the latest credit card issuer to release loss reserves because its loans have performed better than expected during the pandemic.