A recent survey by J.D. Power and Associates finds that consumers are happier than ever with their credit cards. A combination of lower fees, better terms, and lower balances, seems to have boosted...
Continue readingThe Chinese government has been a stiff regulator of American banks in China, requiring US-based banks to work with Chinese banks when issuing loans and consumer lending products to Chinese...
Continue readingBank of America announced that it would drop its controversial product intended to backstop consumers when they cannot make a payment on their credit card. The product, known as debt-cancellation, is...
Continue readingFor years, banks have been engaged in a process known as "robo-signing", a phrase that describes the automatic processing of financing paperwork. Since the dot com boom, more banks are using...
Continue readingCredit card debt may be flat, but delinquencies are anything but. Recently, credit card users have been paying off their balances on time and with regularity. Delinquencies just touched a new 18 year...
Continue readingSquare is perhaps one of the hottest startups in all of mobile payment processing. The company, which is backed by a myriad of venture capitalists and Twitter co-founder Jack Dorsey, is setting the...
Continue readingThe Federal Reserve reported on June credit card balances to show that credit card balances are in decline. Revolving credit - the official name for a variety of balances, but mostly credit card debt...
Continue readingUnder the 2009 CARD Act, credit cards will be limited only to people over the age of 21, or 18 year olds with sufficient income for a credit card. This rule change was intended to keep credit cards...
Continue readingThe Federal Reserve Bank collects a tremendous amount of data on consumer spending and financial habits. Among the datasets the Fed collects is a database of account delinquencies for popular...
Continue readingIn the race for the mobile credit card processing business, Google is gaining on the competition. The company's newest Google Wallet app will allow for the use of multiple credit cards and make a...
Continue readingKroger, one of the largest grocery chains in the United States, is considering a new policy which would give a discount to customers who pay for groceries with cash. The decision would mark the first...
Continue readingFollowing a massive settlement between payment processors and retailers in the United States, the European Union sent new objections to Visa about its policies and interchange fees. The EU asserts...
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