The U.K. axed its payments regulator in an effort to reduce red tape as part of the prime minister's Plan for Growth. The move was lauded by industry, but some are concerned the FCA won't give payments the attention they deserve.

The company's cards will combine with the Alipay digital wallet, enabling foreign travelers to use local currency while reducing fees and processing steps. That and more in the American Banker global payments roundup.

The fees are controversial for card networks and consumers, but the impact on banks has been muted. Here's why that could change.

Serious delinquencies on auto loans rose to almost 3% in the fourth quarter of 2024, according to the New York Fed. Researchers blame the affordability problem on soaring car prices.

The senators introduced legislation that would limit the interest rate card issuers are able to charge holders for the next five years.

The credit card issuer's earnings missed Wall Street estimates, but it reported improvement in sales, delinquencies and charge-offs. Management said unclear political direction and cloudy monetary policy could threaten an already conservative outlook for 2025.

Synchrony Financial's fourth-quarter earnings results missed analysts' forecasts and investors pummeled the stock due to a jump in charge-offs.

The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."

CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."

Credit card issuers for years have looked beyond plastic materials to keep their cards top of mind and top of wallet. But just how much does the credit card material actually affect consumers' spending habits?

The emerging industry could be worth as much as $480 billion in two years, and payments are central to that growth.

The Capital One-Discover merger, the war against Visa and Mastercards' swipe fees and budding payment technologies were most popular with American Banker readers in 2024.

As the Biden administration comes to a close, the agency called out "bait-and-switch tactics" by card issuers. It also announced a new tool allowing consumers to comparison shop for credit cards.

New bureau research digs into the fees that bettors get charged when they use credit cards to fund gambling accounts.

The post-pandemic increase in consumers falling behind on their credit card bills seems to be tapering off. "For 2025, we're seeing a lot of stability in delinquencies," an industry researcher said.

Banks that don't focus on credit cards for this market may find larger banks and fintechs are eating their lunch.

The Clearing House increased its transaction limit from $1 million to $10 million; Mastercard settled a card fee lawsuit; and other news from the world of payments.

The niche buy now/pay later firm is looking for differentiation in a crowded market with recognizable brands like Klarna, Affirm and Afterpay.