The San Francisco bank has temporarily stopped selling defaulted consumer debts to collections agencies. Its move follows a more drastic pullback by JPMorgan Chase and a regulatory crackdown on the collections industry.

Capital One Financial Corp. saw charge-off rates for its domestic credit card business fall to the lowest mark since the bank acquired HSBC's card business last year.

Discover Financial Services experienced fewer credit card delinquencies in the second quarter ended June 30, as well as growth in its online bank, leading to a boost in quarterly profits to $602 million.

Alliance Data Systems Corp. reported chargeoffs for private-label credit cards the company oversees were down a tick in June and delinquencies were flat from the year-ago period.

A report breaking down credit card debt by state lists Mississippi as having the nation's highest card delinquency rate in the first quarter ended March 31.

Major banks face a wave of state investigations into sales of defaulted credit card debt. Now the banks may be facing an even more pressing challenge from their primary federal regulator, the Office of the Comptroller of Currency.

JPMorgan Chase (JPM), which is bracing for a crackdown over its credit card debt collections practices, is trying to give regulators less ammunition.

The U.S. Supreme Court reinforced companies' power to funnel legal disputes into arbitration, ruling in favor of American Express Co. in an antitrust clash with retailers over the credit cards they must accept.

JPMorgan Chase, Bank of America Corp., Capital One Financial Corp. and Discover Financial Services reported Monday that their credit card delinquencies and net charge-off rate fell in May from April.

Law enforcement officials have arrested 11 people suspected in a $200 million global credit card fraud operation, according to the Serious Organized Crime Agency, a unit of the British government.

Iowa Attorney General Tom Miller's office is heading an investigation into credit card collection practices, specifically focusing on the paperwork banks give to debt buyers.

New York Attorney General Eric T. Schneiderman announced Monday a settlement with GE Capital Retail Bank and CareCredit LLC, its subsidiary, that requires new protections for consumers who use CareCredit, a health care credit card that can carry an interest rate of higher than 26%.

The credit card delinquency rate - the ratio of borrowers 90 or more days past due - fell to 0.69% in the first quarter ended March 31 from 0.73% in the year-ago period, according to credit bureau TransUnion.

Visa's hiring of former JPMorgan Chase executive Ryan McInerney to be its new president maintains the card network's bond with the top-tier bank.

The rate of credit card payments at least 90 days overdue fell to 0.69% in the first quarter ended March 31 from 0.85% in the year-ago period, a nearly 19% drop, according to credit reporting agency TransUnion.

Chargeoffs at Capital One Financial Corp.'s U.S. card business fell to 4.61% in April from 4.69% in March, according to a Securities and Exchange Commission (SEC) filing.

Consumer borrowing rose $8 billion in March from February to $2.81 trillion, the smallest uptick in eight months, according to the Federal Reserve's G.19 report released Tuesday.

American Express Co. said Chief Financial Officer Daniel T. Henry is retiring later this year.

E-commerce company LivingSocial revealed last week it endured a breach in which attackers accessed its users' encrypted passwords. And while no payment data was exposed, cardholders should still be concerned.

U.S. consumers have yet to regain their appetite for revolving debt, a trend that's leaving credit card issuers hungry for profits.