A Las Vegas man faces federal charges in connection with producing and using counterfeit credit and debit cards that allegedly were encoded with information skimmed from gas pumps.

Most of the top credit card issuers reported increases in chargeoffs in regulatory filings this week, reversing a trend of several months of decline.

Card issuers within the past two years dramatically reduced consumers’ borrowing capacity to reduce the risk of losses during the recession. But new data suggest the bulk of the credit-line cuts came from closing inactive card accounts, not slashing active borrowers’ credit lines, Moody’s Investors Service noted in a report last week.

U.S. consumers’ average credit card debt fell during the first eight months of this year, while the average credit score also inched down from the start of the year, according to new data Credit Karma released Sept. 13.

Some credit card issuers are using a “dirty trick” to get around the new Credit CARD Act by marketing small-business cards to consumers, according to U.S. Sen. Charles Schumer, D-N.Y.

A claims administrator for the Federal Trade Commission on Thursday began mailing more than 22,000 checks to consumers who were victims of a deceptive telemarketing operation called Remote Response.

The average charge-off rate on U.S. consumer credit cards in July fell to a 16-month low, while delinquency rates also were better as credit card-portfolio health continued to improve, Fitch Ratings reported this week.

The average credit card borrower debt during the second quarter ended June 30 dropped for the fifth consecutive quarter, to $4,951, down 4.1% from $5,165 the previous quarter, according to a TransUnion analysis of credit card trends.

Credit card profits more than doubled for Target Corp. in its fiscal second quarter, helping to boost its overall earnings.

The credit outlook at the top six card issuers is getting brighter, with both chargeoffs and delinquencies falling again in July.

U.S. consumers are carrying fewer credit cards than they were three years ago, while New Yorkers tote more plastic in their wallets than residents of any other state, according to new data Experian PLC released this month.

The Royal Bank of Scotland Group has agreed to sell its credit card payment processing unit to Advent International Corp. and Bain Capital for $2.7 billion, according to the companies.

U.S. credit card borrowers shed $4.5 billion in debt in June, continuing the pattern of reducing overall outstanding receivables that began in the fall of 2008, according to a Federal Reserve G.19 report on consumer credit released Friday.

Credit card issuers have eliminated many practices lawmakers deemed unfair as a result of the Credit CARD Act, most of which went into effect in February. But certain other practices that could put consumers at risk are on the rise, according to a study the Pew Health Group’s Safe Credit Cards Project released last month.

MasterCard Inc. on Aug. 3 reported net income of $458 million for the second quarter ended June 30, up 31.2% from $349 million during the same period last year. Revenues net of operating expenses totaled $1.37 billion, up 7% from $1.28 billion.

Visa Inc. last week reported net income of $716 million for the fiscal third quarter ended June 30, down 1.8% from $729 million during the same period a year earlier. Net operating revenue was $2 billion, up 21.2% from $1.65 billion, driven by growth in data processing and international transaction revenue, the company said.

Despite rising concern in some sectors about a second economic downturn taking hold this year, it is unlikely that a so-called “double-dip recession” would cause credit card charge-off rates to spike again, Moody’s Investors Service notes in a July 26 report.

Credit card chargeoffs fell in June, another sign card losses are easing after soaring as the U.S. recession took hold, reports Moody's Investors Service.

Capital One Financial Corp. was stung during the second quarter by the loss of overlimit fees as a result of the Credit CARD Act, and the law’s overall effects will continue to “pressure” revenues throughout this year, Richard Fairbank, Cap One CEO, told analysts during a July 22 conference call.

The Credit Card Accountability, Responsibility and Disclosure Act legislation, most of which went into effect in February, will cost Citigroup Inc. $400 million to $600 million in pretax revenue this year, John Gerspach, Citi chief financial officer, told analysts July 16 during a conference call to discuss second-quarter earnings.