Payments

The consumer loan and credit card collateral will consist entirely of assets that are seasoned, yet of shorter terms overall.

The buy now/pay later lender posted larger-than-expected losses, and following its layoffs it will deemphasize products with an uncertain short-term outlook, such as crypto trading.

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.

The card network sees digital payment opportunities and upside from China's reopening, but inflation and the slower pace of travel spending could slow growth.

Discover Financial Services posted a healthy fourth-quarter increase in card spending and lending, but analysts raised concerns about a sharp rise in credit account charge-offs that's likely to continue into 2024.

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.

The industry is taking lessons from instant point-of-sale lenders to help homeowners embarking on major projects.

The companies, which reach thousands of merchants, recently launched environmental programs that use a network effect to cut carbon emissions.

Rising interest rates and tightening consumer credit are likely to drive many consumers to use interest-free point-of-sale loans, putting BNPL fintechs' data-driven underwriting to the test.

Sometimes the right worker has the wrong skills. The card network's lab in Chicago is hiring people with general technology expertise, then training them for specific tasks.

Four of the seven large banks that own Zelle's parent company, Early Warning Services, said they are reimbursing 15% to 55% of consumers that report fraud on their accounts, according to a report released by Sen. Elizabeth Warren, D-Mass.

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 cloud retail firm NewStore is an early adopter of the tech giant's iPhone payment acceptance service, which some see as a step toward eliminating dedicated checkout lanes altogether.

Everyware, a text-based billing company reports strong demand for installment loans — due in part to the immediacy with which people respond to messages that pop up on their phones.

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.

Klarna Bank, which advertises itself as a way to spread the cost of the latest brands and smartphones, is shelling out loans for milk and gas with cash-strapped customers looking for ways to cover basic necessities.

Pushes for transparency on charitable donations and ghost guns, among others, were voted down.

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.

The California tech giant's take on pay-in-four installment loans has a top-of-wallet positioning that banks and merchants are unlikely to be able to match.

A more active Consumer Financial Protection Bureau, competition from Big Tech and sanctions on Russia are combining to make compliance a much larger concern than in the past, according to legal experts who spoke at American Banker's Payments Forum.