Capital One’s fourth quarter results, released after the market closed on Tuesday (Jan. 21), indicated that consumers continue to spend on their cards, and stripping out one-time items, credit performance was flat along several metrics. The company’s earnings supplementals revealed that card purchase volumes surged...
The Consumer Financial Protection Bureau (CFPB) filed an amicus brief Thursday (Jan. 16), saying it aims to ensure that credit reporting companies are held accountable for “junk data” and don’t secure “loopholes” in the law that prevent that accountability. The regulator filed the amicus brief in a...
TransUnion plans to purchase Mexico’s biggest credit bureau’s consumer credit business for $560 million. The deal, announced Thursday (Jan. 16), makes it the majority owner of Trans Union de Mexico, an arm of the country’s Buró de Crédito. “Our expansion in Mexico continues our commitment to making trust possible...
Wells Fargo has reportedly hired the former head of JPMorgan Chase’s branded credit card business, Ed Olebe, to lead its own credit card business. Olebe left JPMorgan Chase late last year, was succeeded in his position at that bank by Chris Reagan, and will take over for Ray Fischer...
January 08, 2025
November’s stats from the Federal Reserve on consumer credit — known as the G.19 report — show a reversal from recent months, where households kept borrowing, padding balances, and using cards and other loans to finance daily life. The question is: Was the decline in revolving credit (such as credit cards) and nonrevolving lines (fixed-term […]
December 16, 2024
More than one-third of U.S. consumers are struggling with cash flow shortages, forcing them to make tough choices about how they pay for everyday necessities. Millennials, lower-income consumers, and those...
December 05, 2024
Credit card fraud is a rising concern for American consumers, with nearly 1 in 3 reporting fraudulent charges in the past year. As incidents of fraud increase, so does consumer...
October 02, 2024
Embedded lending’s usage around the globe has been growing — but as we enter new cycles of technology and seamless interactions, we’ll see more consumers and businesses turn to a...
January 22, 2025
Ally Financial has sold its credit card business to consumer finance company Cardworks. The deal, announced in a news release Wednesday (Jan. 22), will see CardWorks and its subsidiary Merrick Bank acquire Ally’s credit card portfolio of $2.3 billion in credit card receivables and 1.3 million active cardholders. “Ally’s decision to sell its credit card business is part of our […]
January 16, 2025
The Consumer Financial Protection Bureau (CFPB) filed an amicus brief Thursday (Jan. 16), saying it aims to ensure that credit reporting companies are held accountable for “junk data” and don’t secure “loopholes”...
January 16, 2025
TransUnion plans to purchase Mexico’s biggest credit bureau’s consumer credit business for $560 million. The deal, announced Thursday (Jan. 16), makes it the majority owner of Trans Union de Mexico, an arm of...
January 09, 2025
Wells Fargo has reportedly hired the former head of JPMorgan Chase’s branded credit card business, Ed Olebe, to lead its own credit card business. Olebe left JPMorgan Chase late last year, was succeeded...
