Citigroup Inc. has appointed several new people to the leadership team of its Citi Cards business.

Fewer than half of all cardholders have a private-label credit card, but those who do are more likely to routinely carry a balance on their various cards than are consumers who rely only on general-purpose cards, new data from Auriemma Consulting Group suggest.

Sovereign Bank is taking its credit card operations in house.

The average U.S. bankcard charge-off rate dropped sharply in June, registering the second-largest monthly decline since the Bankruptcy Reform Act took effect in 2005, according to the latest data from Fitch Ratings Inc.

San Francisco's city attorney said Bank of America Corp. agreed to a $5 million settlement of a suit over its use of the National Arbitration Forum to handle credit-card disputes, according to Dow Jones.

The U.S. credit card charge-off rate rose slightly in July, but delinquencies fell again to an all-time low as consumers continued to demonstrate discipline in making on-time payments, Moody’s Investors Service said in a report released Friday.

Bank of America Corp.’s deal on Aug. 15 to its sell its unwanted Canadian card assets is the latest example of how smaller acquisitions are fueling a slow revival in the credit card portfolio sales market.

A former waiter at a TGI Friday's restaurant in Maryland has been indicted on 16 counts of identity theft, theft and conspiracy to commit theft in a credit card skimming scheme that ripped off 73 people.

Capital One Financial Corp. has taken the second step that had seemed inevitable.

The recession continues to have a firm grip on U.S. credit cardholders as fewer Baby Boomers own premium cards and consumers of all ages are more likely to carry decreased balances or no balances at all, a new survey report indicates.

Consumer bankcard and private-label credit card account defaults declined again in May, reaching lows not seen in more than two years as the economy continues to stabilize, according to new data from Fitch Inc.

Credit cardholders made at least $72 billion more in payments on their credit card accounts than they spent on purchases using their cards between the first quarter of 2009 and the first quarter of 2010, underscoring the dramatic effect the recession had on consumer behavior, a study from TransUnion suggests.

Riding the credit card industry’s wave of better results caused by the improving economy and fewer account defaults, American Express Co. said second-quarter net income for its U.S. card Services unit rose 28.9%, to $665 million from $516 million during the same period a year ago.

Citicorp’s net credit losses dropped 27% to $2.2 billion during the second quarter, driven by Citi-branded cards in North America, John Gerspach, Citi chief financial officer, told analysts during a Friday conference to discuss the quarter’s earnings.

JPMorgan Chase & Co.’s Card Services unit Thursday reported a strong increase in second quarter profits and spending volume, powered by credit card customers using their cards for routine spending while paying off their outstanding balances at a higher rate.

The college crowd isn't as hip with credit card issuers these days.

Signaling plans to stick with its strategy of diversifying beyond its core general-purpose credit card operations, Capital One Financial Corp. on Wednesday said its second-quarter purchase volume rose and its charge-off rate fell, partly as a result of its acquisition of the Kohl’s Corp. private-label credit card operation.

Consumer credit card growth, which has been on the decline for about three years, could be showing signs of life again, according to data Equifax Inc. released July 1.

Call it cash-back rewards for credit card lenders.

JPMorgan Chase & Co. has dropped more than a thousand collection lawsuits across the U.S. that sought to recover bad credit card loans from borrowers.