American Express

The deal will issue two series of notes, 2023-1 and 2023-1 from the master trust. Both series will issue classes A and B notes, but in both cases only the class A notes will be publicly offered.

Lenders have spent months puzzled by the persistently low delinquencies on their credit cards. Now, they’re seizing the moment.

With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche.

American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

American Express Co. is acquiring the teams and technology behind the online lender Kabbage Inc. as the credit-card giant seeks to provide more loans and other services to small-business owners.

The card giant could pay $850 million in cash for the online small-business lender, according to a person familiar with the talks.

The ratings firm also took negative action with respect to Ally, Synchrony, Discover, Sallie Mae and Navient, citing the impact that the coronavirus crisis is having on their revenues and profits.

Measures of loan performance were generally better than expected at Ally, American Express, Synchrony and Sallie Mae. Their 1Q reports suggest that consumers remain able to meet their obligations despite a long run-up in debt.

The upstart lenders have been chipping away at credit cards’ consumer-lending dominance by offering fixed-rate loans with predictable repayment plans. Now the card giants are fighting back.

It's the Canadian bank's second deal of the year aimed at U.S. investors and adds to what has been a slow pace of credit card issuance this year. Two subordinate Canadian dollar tranches will be retained.