Credit

The Consumer Financial Protection Bureau on Tuesday levied more than $23 million in fines and restitution against two of the nation's largest consumer credit agencies, saying that the companies deceived consumers into paying for data that had little beneficial value.

Consumers have long had options to pay for high-value purchases through monthly installments, but payments providers — from PayPal to Mastercard — have typically focused on other ways to lift purchase volume.

With rivals such as Chase and its Sapphire Reserve card angling for a piece of its luxurious patch, Amex has found itself on the defensive.

Its reputation tarnished by revelations that employees opened roughly 2 million phony accounts in order to meet sales targets, Wells Fargo last month suffered a steep decline in new retail checking accounts and credit card applications.

Small businesses often need a short-term cash infusion to make purchases and pay bills due immediately, but the paperwork, timing and fees surrounding short-term loans can be prohibitive.

It's official: Goldman Sachs, the Wall Street investment banking titan, now offers consumer loans.

Arguably the biggest shift was that of Avid Modjtabai, the head of consumer lending, who has been named chief of the new payments group focused on digital and online offerings, investments in research and development and strategic partnerships.

U.S. Bank’s Voyager Network enables fleet managers to track and control commercial fuel purchases, and now the platform also provides key fuel and vehicle usage data from fill-ups at private, unattended fueling sites.

Capital One Financial plans to start issuing credit cards for the outdoor equipment chain Cabela's under a deal connected with the retailer's expected sale to Bass Pro Shops.

Germany-based financial powerhouses Wirecard Group and Commerzbank have teamed up to launch a new financing service enabling online merchants to receive immediate credit for e-commerce sales, rather than waiting days or weeks for transactions to clear.

Wells Fargo is saying so long to product sales goals for retail bankers, and the industry may never be the same.

The revelation that Wells Fargo employees were opening accounts for customers without their consent is sparking doubt about the accuracy of the reported growth in the credit card business. The scandal also casts in a harsh new light Wells’ strategy of building a large credit-card operation through its branch network.

Alliance Data Systems in Plano, Texas, has reached an agreement to provide credit card programs for Williams-Sonoma, the high-end kitchenware retailer.

The settlement underscored how incentives and sales goals led employees to illegally open new accounts, transfer customer money to the accounts, and create PIN numbers and emails without customers' authorization, regulators said.

It would have to take something big for consumers to flock to a mobile wallet en masse. Whether it meant to or not, California-based RadPad found out what consumers wanted, but it wasn't prepared for the aftermath.

American Express Co. came close to reclaiming its once highly touted crown in J.D. Power’s credit-card customer satisfaction ranking, but lost again to Discover Financial Services.

ICBA Bancard has bought an agent bank portfolio from Fifth Third Bancorp in Cincinnati that carries about $98 million in credit card receivables.

Square Inc. is joining with restaurant technology startup Upserve to offer loans to eating establishments, extending credit for the first time to businesses that operate outside of its own payments processing system.

Profits rose by 9% at Capital One Financial during the second quarter thanks to strong growth in the firm's credit card and commercial banking businesses.

Visa Inc., the world’s largest payments network, posted fiscal third-quarter profit that beat analysts’ estimates as customer card spending accelerated. The company said it will buy back as much as $5 billion of its shares.