A core issue in the upcoming fight over late fees involves what data is being collected on card issuers' costs and losses associated with late payments.

Rates are expected to reach a four-decade high, a positive for lenders poised to benefit from the increased income while consumers face escalating costs.

TD Bank, the U.S. unit of the Canadian bank, has hired Christopher Fred as its new head of U.S. credit cards and unsecured lending. The bank's retail partners include Target and Nordstrom.

The Consumer Financial Protection Bureau is investigating some of the bank's credit card practices, including refunds, billing errors and credit bureau reporting, according to a securities filing Thursday.

The credit card issuer Synchrony Financial recently used FICO’s top competitor in a $1 billion deal. The choice is significant for VantageScore, but FICO remains the dominant credit score in the securitization market, according to analysts.

A low charge-off rate and an increasing monthly payment rate are credit hallmarks of the latest deal.

Charge-off and payment rates had improved, due to consumer assistance programs and government stimulus funds amid COVID-19 economic slowdowns.

Six members of the Senate Banking Committee are asking questions about a flurry of lawsuits against credit card customers. The bank denies that it has resumed using robo-signing.

The credit card issuer fielded questions about its fees two days after the Consumer Financial Protection Bureau announced a wide-ranging review of consumer charges. Executives said they would not take a big revenue hit even in the face of new limits.

Performances were solid across the board as retail store, late-stage and payment rates all improved, while the prime chargeoff rate reaches a historically low level.