The agency solicited input on the effects of the CARD Act regulations as part of a statutory requirement that the bureau review policies 10 years after they are implemented.

The agency solicited input on the effects of the CARD Act regulations as part of a statutory requirement that the bureau review policies 10 years after they are implemented.

Part of the coronavirus’s economic story is the sudden boom in installment payment services — a sure sign of consumers and merchants wanting a haven from revolving debt. But the rush to simpler credit is also a reflection of how the crisis has changed the way people are living and managing their lives.

On Mar. 31, 2020. Dollars in thousands.

The COVID-19 pandemic has teed up a growth opportunity for the buy now, pay later (BNPL) financial industry, as recession worries made people receptive to entering short-term payment plans that can fit in a budget.

Hong Kong’s leader said she’s having trouble using her credit cards after the U.S. imposed sanctions targeting Chinese officials and their allies in the city.

While anyone can lose employment during a pandemic or recession, below a certain threshold it becomes more likely that workers could lose their income — and thus default on credit card payments.

Chargeback requests have surged since the start of the coronavirus pandemic, as airlines have canceled flights, performers have postponed concerts and supply chain disruptions have delayed the delivery of many goods.

Facing Wall Street analysts for the first time after the murder of George Floyd, CEOs of major payment companies joined other financial services firms in promising to improve fairness and opportunities for Black people and other underrepresented groups.

Paystand's Zero Card leverages its proprietary blockchain-based bank-to-bank payments network in combination with a virtual Mastercard.

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

Credit card debt has actually gone down since the pandemic struck, with many consumers spending less while using bailout money to chip away at balances. But that may not last.

Womply is joining the growing niche of providers offering card-based bill-payment services for cash-strapped small-business owners.

Consumers are reluctant to take on additional debt in the wake of the coronavirus, cutting into credit unions' revenue streams. That could spur more institutions to roll out rewards programs to promote debit card usage.

Citigroup plans to let credit card customers finance big purchases on Amazon.com over longer periods of time — a deal that may spur sales at the e-commerce giant while boosting the bank’s interest-bearing balances.

Government stimulus programs are buoying consumers hurt by the coronavirus shutdown; the bank has been forced to sell loans to stay within the Fed-imposed $1.95 trillion asset cap.

The major card networks have heavily invested in broader services as transaction processing loses its luster, a strategy that’s provided a ray of hope as retail and travel industries remain sidelined.

The pandemic has had a tremendous impact on the global and US economies, household incomes, and consumer spending. The world's most valuable financial services firm is ready to share insight around the global and US effects of COVID-19.

This personal funding has blurred the line between personal and business finances more than ever.

Cash usage dropped much lower due to the coronavirus pandemic, and it appears that credit cards may be exhibiting some signs of abandonment as well.