Initially, the reserve account starts at 0.0%, but it will be funded to either 1.00%, 2.00% or 3.00%, depending on the level of the notes' three-month average excess spread.

A proposal from the Consumer Financial Protection Bureau to extend the same protections as credit cards to the fast-growing BNPL industry aims to protect consumers, but it could also stunt the nascent industry's growth, experts say.

A federal judge in Texas is locked in a back-and-forth with an appeals court over whether the industry's challenge to a cap on credit card late fees should be moved to Washington, D.C.

The number of borrowers who are at their credit limits is approaching its pre-pandemic level, and the percentage of balances that are sliding into delinquency has hit its highest rate in more than a decade, according to new research. Still, card companies are generally expressing optimism about their credit outlooks.

Price guidance was not available on the series 2024-1, the database notes that the series 2024-2 class A notes are expected to price between 63 and 65 basis points over the three-month interpolated yield curve.

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.

A federal appeals court is putting the transfer of a lawsuit challenging the Consumer Financial Protection Bureau on hold pending the outcome of a hearing on the suit's appropriate venue.

The top three industries includes software, healthcare and software development, accounting for 18.45%, 7.89% and 5.12%, respectively.

The weighted average (WA) credit line was $10,874, which Moody's said is low relative to other large card issuers, and in fact 69.5% of the pool has a credit limit of $10,000 or more.

Rising card balances—and delinquencies—might be a matter of normalization post-COVID, but securitization remains an attractive option for banks extending revolving credit, say observers.