Credit card and debit card spending have improved for several weeks in a row, according to a report from PSCU.

The drop is likely from both a decline in consumer demand and lenders becoming more cautious, according to CompareCards.

Unlike past economic recessions where businesses and consumers have had to adjust their payment habits and debt levels over the course of months or quarters as the economy shrank, the coronavirus-induced economic crisis has forced many to make much more abrupt financial adjustments.

The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.

American Express Chief Executive Steve Squeri said a majority of the company’s employees will work remotely through 2020 as it seeks to slow the spread of the coronavirus.

A report from CO-OP Financial Services showed how credit union members' spending patterns adapted to social distancing during April.

With the pandemic's economic toll leading to elevated billing error notices, the consumer bureau said card companies will not be cited if they fail to meet the typical time frame for resolving disputes.

Despite some improvements, almost one-quarter of respondents to a LendEDU survey were still waiting on their relief checks and those consumers are more likely to take on additional credit card debt.

Carlyle Group Inc. and Singapore sovereign-wealth fund GIC Pte. Ltd. are backing out of a deal to buy a stake in American Express Global Business Travel, which has suffered losses from the Covid-19 pandemic.

On Dec. 31, 2019. Dollars in thousands.

U.S. card issuers aren’t getting the full benefit of the contactless phenomenon because of their slower contactless card rollout strategies.

JetBlue Airways Corp. sold loyalty points to Barclays Plc for $150 million, making the carrier among the first in the U.S. to use the method to raise cash as the coronavirus pandemic all but extinguishes demand for travel.

One of the selling points behind multi-account payment cards is the ability to shift spending on the fly or shortly after shopping, such as to fund a recent purchase with loyalty points. During the pandemic, this feature may become a key financial management tool.

Visa is delaying previously announced interchange and fee changes until April 2021, except for changes in the supermarket category, which will remain on the same schedule.

A surge in demand for home loans drove the increase, but the second quarter could see a slowdown in borrowing and more delinquencies as consumers contend with the economic fallout of the coronavirus pandemic.

Discover Financial Services said Thomas Maheras will serve as its chairman after the death of Lawrence Weinbach.

Marriott International Inc. raised $920 million in cash through deals with co-branded credit card companies as it rides out the pause in travel due to the coronavirus.

Stay-at-home orders and business shutdowns have led to a sharp decline in consumer use of credit and debit cards.

Credit inquiries for auto lending, revolving credit cards and mortgages fell sharply in March as unemployment surged, according to a Consumer Financial Protection Bureau report.

American Express Co., long synonymous with premium travel rewards, will now offer a meditation app and credits for streaming services as the coronavirus pandemic forces its customers to stay home.