The company reported a loss of $1.3 billion in the first quarter after setting aside more than $5.4 billion for potential loan losses.

Discover and Sallie Mae are the latest to report a surge in forbearance requests as households struggle with job loss and other hardships resulting from the coronavirus pandemic.

Financial-technology startup Stripe Inc. is starting a card-issuing service for U.S. clients as it expands beyond payment processing.

Alliance Data Systems Corp., which provides credit cards for Victoria’s Secret and J. Crew, abandoned its full-year revenue and earnings forecasts as a nationwide shutdown cuts consumer spending.

Discover is the latest card lender to say it's reining in credit lines as the coronavirus pandemic leaves millions of Americans jobless and struggling to keep up on loans.

Discover transitioned all of its 8,000 U.S.-based call center personnel to work from home within a matter of days after the U.S. declared a national emergency on March 13. By March 20, Discover had 95% of its agents working from home using a thin-client device to emulate their call center desktops.

The lender behind the credit cards for Gap, J.C. Penney and other retailers took a large provision for loan losses and abandoned full-year earnings guidance as the nationwide shutdowns tied to the coronavirus pandemic have led to a sharp decline in spending on its cards.

Google’s reported plan to offer its own version of the Apple Card is less of a play for credit and more of a play for its mobile users' bank accounts.

Overall credit card spending is down 32% while debit card purchases have declined by 12% for the week ending April 12.

The U.S. Treasury Department is in talks with some airlines about accepting their loyalty programs as collateral against government loans to help them weather the coronavirus crisis.

Quick forbearance actions averted an immediate hit to asset quality, but executives warned that a spike in unemployment and a looming recession will cause long-term problems.

Net income fell 46% in the first quarter as the company added nearly $5 billion to its loss reserves in anticipation of a wave of loan defaults.

Five Democrats on the Senate Banking Committee sent a letter to Director Kathy Kraninger calling the agency's response to COVID-19 “tepid and ineffectual at best.”

A coronavirus-spurred slowdown in travel and restaurant spending has credit card issuers reworking their offerings.

With coronavirus driving more merchants to promote electronic payments over cash — and contactless payments over cards — many are still asking their customers to share a potentially virus-laden pen to sign a receipt or screen at the point of sale.

The newly minted Transact Bank will provide payment processing and card issuing services to a wide range of clients.

The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau to do more to aid consumers suffering financial hardship.

The company once again lowered its outlook for quarterly revenue growth, saying the coronavirus pandemic has led to a sharp decline in cardholders’ overseas spending.

In contrast, grocery stores and pharmacies saw a jump in spending during the coronavrius outbreak, according to credit union member data examined by the CUSO.

The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.