Credit cards
Credit cards
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The lender behind the credit cards for Gap, J.C. Penney and other retailers took a large provision for loan losses and abandoned full-year earnings guidance as the nationwide shutdowns tied to the coronavirus pandemic have led to a sharp decline in spending on its cards.
April 21 -
Google’s reported plan to offer its own version of the Apple Card is less of a play for credit and more of a play for its mobile users' bank accounts.
April 20 -
Overall credit card spending is down 32% while debit card purchases have declined by 12% for the week ending April 12.
April 20 -
The U.S. Treasury Department is in talks with some airlines about accepting their loyalty programs as collateral against government loans to help them weather the coronavirus crisis.
April 17 -
Quick forbearance actions averted an immediate hit to asset quality, but executives warned that a spike in unemployment and a looming recession will cause long-term problems.
April 15 -
Net income fell 46% in the first quarter as the company added nearly $5 billion to its loss reserves in anticipation of a wave of loan defaults.
April 15 -
Five Democrats on the Senate Banking Committee sent a letter to Director Kathy Kraninger calling the agency's response to COVID-19 “tepid and ineffectual at best.”
April 7 -
A coronavirus-spurred slowdown in travel and restaurant spending has credit card issuers reworking their offerings.
April 2 -
With coronavirus driving more merchants to promote electronic payments over cash — and contactless payments over cards — many are still asking their customers to share a potentially virus-laden pen to sign a receipt or screen at the point of sale.
March 31 -
The newly minted Transact Bank will provide payment processing and card issuing services to a wide range of clients.
March 31 -
The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau to do more to aid consumers suffering financial hardship.
March 30 -
The company once again lowered its outlook for quarterly revenue growth, saying the coronavirus pandemic has led to a sharp decline in cardholders’ overseas spending.
March 30 -
In contrast, grocery stores and pharmacies saw a jump in spending during the coronavrius outbreak, according to credit union member data examined by the CUSO.
March 27 -
The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.
March 26 -
Alliance Data Systems, which has substantial exposure to the mall-based retail sector, sought Tuesday to assuage investors' fears about the impact of the COVID-19 outbreak.
March 25 -
Citi is beefing up leadership in its consumer card lending operations by recruiting Chase exec Pam Habner — credited with engineering the success of Chase’s Sapphire Reserve card — and former Citi exec Chris Fred, who will return after several months of working at Goldman Sachs on Apple Card products.
March 24 -
Over the past year, buy now, pay later schemes have risen to become the trendiest method of retail payments in the U.K.
March 19 -
SBI Cards & Payment Services Ltd. declined in its stock market debut as investor uncertainty stemming from the coronavirus pandemic cast a shadow over the listing of India’s first pure-play credit card issuer.
March 16 -
Cobranded travel credit cards — including some of the most popular and profitable in the payment card industry — are looking at darker skies because of COVID-19.
March 16 -
Firms such as Afterpay that offer financing to shoppers have been enjoying rapid growth. But their model is under scrutiny from regulators, being mimicked by credit card lenders and faces heightened risks in a downturn.
March 11


















