Payments

Capital One Financial Corp. reported Wednesday that delinquencies and chargeoffs at its U.S. credit card business fell in July from the month earlier.

BIRMINGHAM, Ala. – For the second time in the last three months revolving credit is down.

LAKE BLUFF, Ill. – Today marks the second anniversary of the Fed’s Reg E Opt-In regulation for debit card and ATM overdrafts, and one economist says a number of lessons have become apparent.

The national credit card delinquency rate dropped to 0.63% in the second quarter ended June 30 from 0.73% the previous quarter, according to TransUnion.

SALEM, Ore.-Maps CU here has increased its partnerships with local businesses and boosted transaction volumes on credit/debit cards by instituting a program encouraging consumers to patronize local businesses.

Merchant-funded rewards-those coupon, cash-back, and instant savings programs-are gaining steam. But for merchants to keep those discounts coming for the lower-cost alternative to standard rewards, card issuers must show retailers the program's value.

Merchant-funded rewards programs that perform best are those whose offers are simple, provide a mix of online and in-store redemption, and include local businesses as well as national retailers.

Questions still surround merchant-funded incentives, including the return they provide retailers and how well they drive issuer transactions.

If the credit union is considering adding merchant-funded rewards, Tim Kolk, owner of TRK Advisors, recommends paying close attention to all the different platforms available.

The full impact of the Durbin rules have yet to trickle down to financial institutions below $10 billion, but it's coming.

WASHINGTON – Several more groups have joined opponents of the $7.2 billion settlement for Visa and MasterCard, adding new pressure to the historic deal.

Overall consumer borrowing rose in June as a result of increases in auto and student loans. At the same time, consumers cut back on credit card use.

WASHINGTON – Sen. Richard Durbin, author of the 2010 Dodd-Frank Act rule capping debit card fees, is telling retailers the proposed $7.2-billion antitrust settlement with Visa and MasterCard is bad for them and should be rejected.

The recession has turned many more CU credit card holders into transactors — those who pay off balances monthly — which is making rewards more important, according to Kevin O'Donnell of Discover.

JMFA, which offers an Overdraft Privilege program that is utilized by numerous credit unions, issued the following statement in response to Credit Union Journal's inquiries related to its program.

With increased overdraft scrutiny coming from the CFPB, a number of CU CEOs are revisiting so-called "high-to-low" transaction posting practices established by credit unions in the early 2000s.

Diana Dykstra, president of the California and Nevada Credit Union Leagues, is confident the West Coast CUs will successfully defend themselves against what she calls "frivolous" overdraft lawsuits.

Third-party providers that recommend pricing overdrafts as a penalty as opposed to a safety net are "doing a disservice to credit unions," according to the CEO of Moebs $ervices.

Google added a virtual card option to its mobile wallet this month, and it's far from the first company to realize that virtual accounts can work where conventional cards just don't cut it.

Credit card portfolio sales this year have snapped back to a pace last seen before the recession took hold. Their prices are also rising.