The promises made by supporters of the Credit Card Competition Act don't account for all of the ways in which it could actually increase the cost of doing business.

A proposal by Sen. Josh Hawley to cap credit card interest rates deserves to be taken seriously, but requires far more detail than the legislative language provides.

Staring Jan. 1, only amounts spent on fares and Delta credit cards co-branded with American Express will be used to calculate rewards.

Republican Josh Hawley, the senior senator from Missouri, says he intends to offer legislation that would cap credit card rates at 18%. For a bill designed to go nowhere, it's a surprisingly good idea.

Amex is planning to debut a new luxury lounge at Newark Liberty International Airport, part of the credit-card giant's continued push into travel and entertainment services.

Capital One Financial opened its newest airport lounge to the public at the Washington, D.C., metropolitan area's Dulles International Airport.

Consumer loan balances fell in July for the first time since 2020 as banks have tightened lending standards in response to rising rates and jettisoned assets to bolster liquidity and capital levels.

Consumers favor credit cards that offer better spending rewards and that card issuers should consider providing services to help their customers manage growing account balances, J.D. Power's annual survey found.

The embattled credit card company, which is bracing for regulatory action, warned Thursday that heavy spending on risk management and compliance will persist. Executives also said that internal and external candidates will be considered for the permanent CEO job.

Discover Financial Services' announcement of the immediate resignation of longtime executive Roger Hochschild comes weeks after the company announced it overcharged merchants for 16 years.

Corporations are leaning harder on virtual cards as post-pandemic business travel ramps up amid hybrid work arrangements, according to a new Mastercard survey. Visa separately has extended its collaboration with virtual-card technology provider Conferma Pay.

U.S. consumers set a new record during the second quarter, as card debt reached $1.03 trillion. Bankers say a healthy job market has allowed consumers to keep making their monthly payments, but they're also on guard about the impact of the upcoming resumption of federal student loan payments.

Evidence from the implementation of the 2009 CARD Act shows that warnings about higher interest rates and other unintended consequences don't square with reality.

Credit metrics are deteriorating as more cardholders fall behind on their payments. But bank CEOs detect few causes for alarm, saying they plan to stay in growth mode since most consumers have stayed current.

U.S. financial services firms should be paying close attention to the innovative Pix Credit system that is displacing consumer credit cards in Brazil.

The New York megabank benefited duing the second quarter from strong revenue growth in its giant credit card business, which helped overcome headwinds in wealth management and investment banking. But executives indicated that the script could soon flip.