Wealthier Americans cut their credit card spending for a third straight month in July as inflation and market volatility weighed on sentiment, according to a study by Bank of America Institute. 

Mastercard is facing pushback from retailers over a new product that allows customers to pay off their purchases in installments. 

In another sign that the pandemic-fueled migration to digital transactions is here to stay, Capital One is dropping a mobile-payment incentive for REI credit card customers as it takes over issuance of the Mastercard from U.S. Bank.

The Chicago-based company, which is the league's exclusive credit card sponsor, sees soccer's young, diverse fan base as a fit for its below-prime products.

Data as of Mar. 31, 2022. Dollars in thousands.

An outage with the issuer's bill payment site unleashed a torrent of complaints on social media and to the Consumer Financial Protection Bureau — even after the company said it had resolved the issue.

The Consumer Financial Protection Bureau is investigating some of the bank's credit card practices, including refunds, billing errors and credit bureau reporting, according to a securities filing Thursday.

Within two years, the credit-card company expects to employ more than 1,000 people from a historically disadvantaged part of the city.

Data as of Mar. 31, 2022. Dollars in thousands.

The Maryland bank has lost 13% of its credit card customer base in the past year amid a flurry of marketing activity by newer players. But it is refusing to panic.

The card network's shares fell 10% on Thursday from news that it's conducting an independent investigation of its student loan operation, signaling potentially costly regulatory actions ahead.

Kristy Kim, co-founder and CEO of TomoCredit, started out trying to help immigrants like herself access credit. With the latest funding round, she hopes to expand beyond credit cards.

American Express, Capital One and JPMorgan Chase hope to entice affluent travelers by enhancing access to airport lounges, many of which have reached capacity after travel rebounded.

Investors have grown concerned that 40-year highs in inflation may take a bite out of consumers and lead to credit troubles, but Synchrony executives say consumers are continuing to manage “incredibly well.”

Consumers are feeling less confident about their economic prospects, and investors worry their loan repayments will slow. Those fears have led to large drops in stock prices for consumer finance companies, particularly for those who lend to borrowers with lower credit scores.

Some banks in Europe, Latin America and Asia are issuing contactless cards that use fingerprints instead of PINs to authenticate users, but observers think the technology's U.S. prospects are limited.

With alternative payment methods one app or click away, a short service disruption can lead to a permanent loss of trust.

After being hard-hit financially by the pandemic and the surging inflation that followed, the generation entering adulthood is meshing their love of late-‘90s nostalgia — think cargo pants, bucket hats and disposable cameras — with a dose of old-fashioned frugality.

Inflation isn't only driving up travel costs — a key category for credit card spending — it's making shoppers more selective about how they earn and redeem loyalty points for products hit hardest by price increases.

Wells Fargo has historically underperformed its competitors in the credit card business. The Autograph card, which offers triple points for travel, dining and gas, is part of CEO Charlie Scharf’s effort to compete more effectively.