Credit cards
Credit cards
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U.S. banks and merchants face mounting pressure to catch up with technology used in Europe, Asia and Latin America to secure credit- and debit-card data after tens of millions of Target Corp. customers were exposed.
January 16 -
The latest quarterly survey of U.S. and Canadian bank risk professionals found expectations for delinquencies on auto loans hit their highest level since Q4 2012, and expectations for delinquencies on credit cards reached their highest level in two years.
January 15 - PSO content
JPMorgan Chase & Co. said it replaced 2 million payment cards after the breach of consumer data at retailers including Target Corp.
January 14 - PSO content
Card reward programs are well past their Sperry & Hutchinson Green Stamps phase, where people redeem their rewards by picking items from a catalog that stays pretty much the same all the time.
January 8 - PSO content
Alabama State Employees Credit Union has filed the first class action by a financial services company against Target Corp. over costs from the massive card security data breach.
January 6 - PSO content
As the impact of Target's data breach continues to widen, credit unions have been more responsive than banks when it comes to issuing new cards, according to two recent online surveys.
December 31 -
Target Corp. faces almost two dozen lawsuits filed by customers after a computer security breach exposed data on 40 million debit and credit cards.
December 27 -
American Express has been ordered by federal regulators to pay nearly $76 million to settle allegations that it used to deceptive marketing and unfair billing practices to sell credit card add-on products to its customers.
December 26 - PSO content
Card payments account for more than two-thirds of all noncash payments in the U.S., and the number of checks written for payment is less than half of what is was a decade ago, according to the Federal Reserve Bank Services' 2013 payments study.
December 23 -
Retail giant Target confirmed Thursday morning that the credit and debit card data of 40 million of its shoppers has been compromised. The company says the problem has been identified and resolved.
December 19 - PSO content
MasterCard Inc. said its board of directors approved an 83 percent dividend increase and a 10-for-1 stock split.
December 13 -
The Consumer Financial Protection Bureau released preliminary research Thursday on the use of arbitration clauses in connection with consumer financial products and services.
December 12 - PSO content
Led by the biggest rise in credit card debt in five months, along with jumps in both auto loans and student loans, consumers increased borrowing by $18.2 billion in October, the Federal Reserve reported.
December 11 - PSO content
The number of credit cards issued by banks and retailers hit five-year highs between January and August, according to the latest Equifax National Consumer Credit Trends Report.
November 26 -
MasterCard, echoing remarks made 16 hours earlier by Visa, is placing security at the heart of its emerging payments strategy.
November 15 - PSO content
Scammers posing as collection agencies are becoming more deceptive and persistent, according to a news release from the Better Business Bureau.
November 12 -
One of the main promises of the 2009 credit card reform law was that clearer disclosures to consumers would prompt them to make more prudent financial decisions.
November 1 - PSO content
American Express Co., the biggest credit-card issuer by purchases, posted a third-quarter profit that beat analysts estimates as customer spending climbed.
October 17 - PSO content
Wells Fargo & Co.'s third-quarter profit jumped 13% as a decline in revenue from mortgage lending was offset by reduced expenses and fewer soured loans.
October 16 -
The payments industry faces a significant security challenge as too many consumers become "chronic oversharers" of their personal and payment card data, says Ellen Richey, chief enterprise risk officer for Visa Inc.
October 16


