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  • MADRID/ LONDON Jan 19- Barclays is selling its credit card operations in Spain and Portugal, and Spanish bank Santander and U.S. private equity firm Apollo are among the interested parties, according to four sources familiar with the matter. It has already sold its retail and corporate banking divisions in Spain and Portugal as part of a drive to shrink its...

  • Reflecting this, Bank of America's provision for credit losses in global banking increased by $264 million in the quarter ended Dec. 31, mainly due to higher energy-related charge-offs and reserve increases for energy exposure. BofA said its net income attributable to common shareholders rose to $3.01 billion, or 28 cents per share, in the quarter, from $2.74...

  • A letter on Tuesday from Representative Maxine Waters, the top Democrat on the House Financial Services Committee, and fellow committee members Michael Capuano, Emanuel Cleaver and Keith Ellison called on the Justice Department and the Consumer Financial Protection Bureau to "pursue appropriate corrective action" against Clayton. It followed a report...

  • PHILADELPHIA, Jan 13- A former Capital One Financial Corp analyst was found liable on Wednesday on civil charges that he engaged in insider trading by using non-public sales data from the credit card issuer to buy and sell stocks. A federal jury in Philadelphia agreed with the U.S. Securities and Exchange Commission that information used by the Capital One...

  • Federal probe sought for Buffett's mobile home unit Wednesday, 13 Jan 2016 | 10:52 AM ET

    A letter on Tuesday from Representative Maxine Waters, the top Democrat on the House Financial Services Committee, and fellow committee members Michael Capuano, Emanuel Cleaver and Keith Ellison called on the Justice Department and the Consumer Financial Protection Bureau to "pursue appropriate corrective action" against Clayton. It followed a report...

  • Jan 11- A former Capital One Financial Corp analyst, accused by U.S. regulators of using sales data from the credit card issuer to engage in insider trading, goes on trial on Monday in federal court in Philadelphia. The civil trial of Nan Huang follows a complaint by the U.S. Securities and Exchange Commission a year ago against both him and another former Capital...

  • SAO PAULO, Jan 9- Brazilian lenders Banco Bradesco and Banco do Brasil are in talks to buy Citigroup's stake in a credit card processing joint venture with Elavon Inc, a source with knowledge of the negotiations said on Saturday. Reuters reported in November that Citigroup had put the stake up for sale after Brazil's central bank said the joint venture needed...

  • NEW YORK, Jan 7- David, 31, was in a pinch. He was building out a second location for his family's jewelry store in Queens, New York and running out of cash. A joint study from PwC and George Washington University found that 28 percent of college-educated millennials have tapped short-term financing from pawn shops and payday lenders in the last five years.

  • Lion Point, co-founded in 2014 by former portfolio managers from Elliott Management and Perry Capital, said Ally ignored this request and also chose to make their private discussion public via its release on Monday. Lion Point is targeting a $9 billion company in its first such campaign while holding less than 1 percent of Ally's stock. Ally, the largest auto...

  • BOSTON, Jan 4- Fidelity Investments said on Monday it is dropping long-time credit card partners American Express Co and Bank of America Corp, ending a 12- year partnership that has generated billions of dollars in fees. The switch is another setback for American Express, already reeling from its lost deal with warehouse club retailer Costco Wholesale Corp....

  • BOSTON, Jan 4- Fidelity Investments said on Monday it is dropping long-time credit card partners American Express Co and Bank of America Corp, ending a 12- year partnership that has generated billions of dollars in fees. The switch is another setback for American Express, which already is reeling from its lost deal with warehouse club retailer Costco Wholesale...

  • That 'great' credit score you got? Probably wrong Saturday, 26 Dec 2015 | 12:00 PM ET
    Car dealership

    Varying credit scores can lead to consumer confusion, frustration and anger. But you can clean up the mess made by the financial industry.

  • Dec 18- Yirendai Ltd, the consumer finance arm of Chinese peer-to-peer lender CreditEase, made a tepid U.S. market debut on Friday, with its shares trading around the offer price. Yirendai's initial public offering, the last one of the year on U.S. exchanges, raised $75 million after its American Depository Shares were priced at $10 each, the midpoint of the expected...

  • Dec 18- Shares of Yirendai Ltd, the consumer finance arm of Chinese peer-to-peer lender CreditEase, rose as much as 3.9 percent in their first few minutes of trading on Friday, valuing the company at about $1.19 billion. The company's initial public offering, the last one of the year on U.S. exchanges, raised $75 million after its American Depository Shares were...

  • Dec 17- Apple Inc said on Thursday it had partnered with China UnionPay to launch payment service Apple Pay in China for China UnionPay cardholders by early 2016.. "China is an extremely important market for Apple and with China UnionPay and support from 15 of China's leading banks, users will soon have a convenient, private and secure payment experience," said...

  • TORONTO, Dec 11- Canada's move to tighten mortgage rules and raise some fees on lenders will likely make it more expensive for consumers to borrow, but could boost one of the most vulnerable segments of the market- Toronto's big supply of condominiums. Realtors, mortgage brokers and economists said the move to raise the minimum down payment on expensive...

  • WASHINGTON, Dec 3- Credit card holders have avoided more than $16 billion in fees over the last few years because of tighter regulation of the U.S. card market, but they are still vulnerable to aggressive collections and high costs, according to a federal consumer watchdog. The Credit Card Accountability Responsibility and Disclosure Act, enacted in 2009 during...

  • Nov 30- A federal appeals court on Monday ordered an injunction blocking the Cook County, Illinois, sheriff from pursuing any effort to stop credit card companies from handling transactions for Backpage.com, a classified ad website that the sheriff said promotes sex trafficking. The 7th U.S. Circuit Court of Appeals in Chicago said Sheriff Thomas Dart, whose...

  • Swatch signs pact with Visa on payment watch - report Tuesday, 24 Nov 2015 | 12:24 PM ET

    ZURICH, Nov 24- Swatch Group Chief Executive Nick Hayek has signed a contract with credit card company Visa Inc. in connection with the Swiss firm's new watch that enables wearers to make payments, a newspaper reported on Tuesday. Swatch has already introduced the watch in China and aims to introduce a similar device in 2016 in Switzerland and the United States,...

  • *Citigroup struggles with scale issues in Brazil. *Rivals uninterested in Citigroup's venture stake. SAO PAULO, Nov 23- Citigroup Inc has put its stake in a Brazilian credit card processing joint venture with Elavon Inc up for sale, two sources with direct knowledge of the plan said, after a disagreement over additional funds for the loss-making unit.