Joseph W. Saunders, the former chairman and CEO who took Visa public in what was then the largest initial public offering in U.S. history, died Nov. 2, according to an official obituary. He was 81. Saunders became chairman and CEO of Visa Inc. in May...
Candidates of both parties are advocating caps on credit card interest rates as they campaign for next week’s midterm elections, Bloomberg reported Saturday (Oct. 31). These candidates aim to capitalize on voter frustration with credit card interest rates that are nearly double what they were...
Credit card delinquencies crept up in September, while net charge-offs declined, according to the latest edition of Seeking Alpha’s Credit Pulse, released Thursday (Oct. 22). This report tracks monthly delinquency and charge-off rates at seven major credit card issuers, including American Express, Bank of America, Bread Financial, Capital One, Citigroup,...
Capital One’s cardholders continued spending in the third quarter while credit losses declined, giving the bank room to pursue two expensive strategic priorities: building more volume on the Discover network and investing further in generative and agentic artificial intelligence. The Oct. 20 results showed that...
Large banks are putting more credit cards into the hands of consumers with low credit scores, but they are not pairing that expansion with large amounts of new borrowing capacity. The combination indicates how card issuers are pursuing growth after several years of tight underwriting....
Visa has been granted permission from China to bring its card business to that country. The American payments giant announced Tuesday (Oct. 13) that the People’s Bank of China (PBOC) had approved its “Application to Prepare,” which lets Visa begin work on setting up a...
Credit card issuers may think their biggest retention threat is another bank persuading a customer to open a new account. But the replacement card may already be sitting in the customer’s wallet. PYMNTS Intelligence’s “The Switching Trigger: How Issuers Can Stop Their Credit Cards From...
U.S. Bank has launched two new small business credit cards that are designed to deliver “straight-forward rewards” on everyday business purchases, the bank said in a Monday (Sept. 28) press release. The new U.S. Bank Business Essentials Visa Card has no annual fee, offers unlimited...
Citi launched a commerce media platform that connects brands with the bank’s U.S. credit card customers across Citi.com, the Citi Mobile App and paid media properties, Citi said in a Wednesday (Sept. 23) press release. The new Citi Commerce Media features consumer insights garnered from...