Small-business owners need all the savings they can get, but the proposed legislation will ultimately cost consumers and entrepreneurs.

U.S. credit card balances surged to a record in the third quarter as banks bet that consumers with less-than-stellar credit will be able to handle more debt. 

The Federal Reserve's latest rate hike will cost Americans with outstanding credit card debt more than $5 billion in additional interest over the next 12 months, according to an estimate from the personal-finance site WalletHub.

Canadian merchants are now allowed to add a fee for Mastercard and Visa credit card transactions. But early indications suggest few will do so, fearing consumer backlash.

The credit card issuer is still dealing with the effects of a technical glitch in July that affected customer payment rates. But card sales rose in the most recent quarter, and the company is bullish about its positioning in the buy now/pay later market.

Nickels, which works with the credit union service organization Reseda Group, is using its $4 million seed funding to give financial institutions more visibility into consumers' debts.

U.S. Bank's new M&A closing date, and new rewards card, and more in banking news this week.

A Bloomberg News analysis found more than 45 groups and pages — with more than 1 million combined members — where the spoils of cyber crimes and the tools needed to carry them out were offered for sale.