A crime ring based in New Jersey created thousands of fake identities to obtain 25,000 credit cards and steal more than $200 million in one of the largest scams of its type, the Justice Department said.

Fifth Third Bancorp has agreed to buy a credit card portfolio from Quad City Bank & Trust.

Last year, KeyBank saw an important gap in its credit card strategy – not owning its card portfolio meant it did not have the control it needed to properly manage its relationships with its customers.

The Federal Trade Commission recently mailed 70,511 refund checks to consumers who lost money to a scheme that allegedly sold bogus "platinum" credit cards and illegally debited consumers’ bank accounts.

The U.S. District Court for the Middle District of Florida has temporarily shut down Innovative Wealth Builders Inc. (IWB), which allegedly operated a credit card interest rate reduction scam.

Penalty fees fell 8% among credit card issuers last year, an industry consultant estimates.

U.S. consumers are likely to remain diligent about paying down their debts, while personal bankruptcy filings should drop again this year, according to a report by Fitch Ratings.

American Express Co., the lender that plans to cut 5,400 jobs this year, said profit at its U.S. card business declined 42 percent in the fourth quarter as the firm set aside more money to cover soured loans.

State attorneys general and the Federal Trade Commission have regularly skirmished with the collection industry over what they regard as the use of aggressive legal tactics supported by scanty records.

The amount of new credit card limits opened in the first three quarters of 2012 hit $675 billion, up from $523 billion during the same period in 2010, according to Equifax's National Consumer Credit Trends Report.

Delinquencies in Capital One Financial Corp.'s U.S. credit card business declined during December while chargeoffs improved, the lender reported.

U.S. credit card ABS chargeoffs fell to a record low in December to finish 2012 on a positive note, according to index results from Fitch Ratings.

The Federal Reserve reported Tuesday that consumers remained cautious with credit card spending in November but took on more debt to attend school and purchase cars.

Private Label Is Dead. The headlines proclaimed this just a few years ago. Yet today we see new headlines announcing private label deals by the dozen.

Delinquencies on bank card payments fell to an 18-year low for the third quarter, and a combined ratio covering late payments in eight loan categories also dropped, the American Bankers Association reported.

Consumer credit originated year-to-date through last September increased nearly 30 percent during the same timeframe in 2011, according to Equifax's latest National Consumer Credit Trends Report.

The FTC issued a report to Congress explaining steps the agency has taken in connection with new rules on debit card transactions that were put in place last year.

U.S. credit card holders continued to pay off their balances at historically strong rates in November, defying predictions that delinquencies would rise as the economy improves and card issuers take on more risk.

Capital One Financial Corp.'s U.S. credit card delinquencies rise in November while international numbers fall.

The executive shuffle is ramping up at Visa.