In the latest sign of concern about the trajectory of the U.S. economy, two large credit card issuers signaled greater caution Tuesday about their willingness to make borrowing capacity available to consumers. The comments by the CEOs of Capital One … Continue reading →
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A California debt collection law firm has hired one of the appellate bar’s biggest names to handle its Supreme Court challenge of the Consumer Financial Protection Bureau’s constitutionality. Kannon Shanmugam of Paul Weiss Rifkind Wharton & Garrison LLP will lead … Continue reading →
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Amazon AMZN opened Monday up over 4% after announcing its new “Amazon Store Card Credit Builder.” Partnered with Synchrony Bank SYF, the card will be marketed to those with low credit scores who would have a hard time getting a … Continue reading →
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The financial services industry often scores victories when it lobbies on issues that are far removed from the daily lives of most Americans. But on Thursday, in objecting to an idea that resonates deeply with the public, the industry found … Continue reading →
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First-quarter card profits among the nation’s Big 6 U.S. issuers edged up 160 basis points (bps) year-on-year (YOY), compared to a tax cut fueled surge of more than 50% one-year ago. Sequentially, credit card profits were flat. Since 2015, the … Continue reading →
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Elham Mirshafiei was at the library cramming for final exams during her senior year at California State University-Long Beach when she grew nauseated and started vomiting. After the 10th episode in an hour, a friend took her to the nearest … Continue reading →
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JPMorgan Chase is quietly re-introducing a heavy-handed legal maneuver. Today, its Slate credit card customers received an email that the bank was updating its account terms. In the message was a lot of legalese about certain tweaks, and it included … Continue reading →
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Eric Rosenkoetter, an ACA International member and attorney with Maurice Wutscher LLP, provides insight on new amendments to licensing laws that will take effect in West Virginia June 7, 2019. According to a blog post from Rosenkoetter, on March 26, … Continue reading →
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Just two in five U.S. adults keep a household budget and track their spending, a recent report by the consumer finance website WalletHub found. Residents in Georgia and Louisiana have among the poorer money management skills compared to those living … Continue reading →
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J WASHINGTON — Consumer borrowing accelerated in April to the fastest pace in five months as a rebound in credit card use offset slower demand for auto and student loans. Borrowing increased by $17.5 billion, the Federal Reserve said Friday. … Continue reading →
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