NEW YORK— American Express said Wednesday that its second-quarter profit jumped 37 percent, helped by the sale of its Costco credit card portfolio and increased spending on its namesake cards. AmEx sold the Costco portfolio to Citigroup, providing one-time after-tax gain of $677 million for the April-June quarter. The sale of the Costco credit card portfolio... » Read More
London’s reputation as a leading financial hub has been hit, but some argue that financial technology could be its saving grace.
Americans will spend about $7.4 billion less on gifts and goodies for dads this Father's Day than they spent on moms for Mother's Day.
New research from the Consumer Financial Protection Bureau concludes that medical bills are unfairly lowering credit scores.
Consumer credit rose by the largest amount since February 2013, boosted by growing demand for student and auto loans.
Most of us have a positive experience when we use the Web. Credit unions, shipping companies, banks and hotels scored highest.
The California Department of Motor Vehicles has opened an investigation into a possible security breach of its credit card processing services, a spokesman for the agency said.
Keith Fitz-Gerald, Chief Investment Strategist, Money Map Press, says he is shifting his attention away from mergers and acquisitions in the technology field to the financial sector.
Credit card companies MasterCard and Visa said they had formed a new cross-industry group to enhance payment system security across networks.
The federal government accused ITT Educational Services, one of the largest for-profit post-secondary education chains, of making predatory loans.
American International Group posted earnings excluding items of $1.15 per share on revenue of $8.62 billion, beating Wall Street estimates.
The National Retail Federation is calling on the banking industry to switch from the easy-to-hack magnetic stripe to the more secure PIN and chip.
Matthew Lawrence, a research fellow at the U.K.'s Institute for Public Policy Research, discusses a forthcoming law to cap the astronomic interest rates lenders can charge on so-called payday loans.
The government shutdown may have ended a couple of weeks ago, but, like a bad hangover, the economic fears and financial uncertainty are lingering.
Couples who relocated or rescheduled weddings due to the shutdown may be able to get their money back.
The cellphone has become one of the most popular communication technologies in the world, so many people view it as more of a necessity.
Credit cards that offer rewards are more popular than ever. And yet, many people who have these cards don't really know how they work.
U.S. federal regulators on Wednesday will unveil a reworked proposal aimed at reducing risk in the mortgage market and limiting shoddy underwriting practices.
Renaud Laplanche, Founder & CEO of LendingClub.com, discusses his online "matchmaking" business for borrowers and investors.
Howard Archer, chief U.K. & European economist at IHS Global Insight, talks about the pick-up in U.K. data but advises against investing in "pure, domestic exposure" to the U.K..
Peter Dixon, senior economist at Commerzbank Securities, expects U.K's GDP to strengthen but highlights that there are still many imbalances in the economy that need to be dealt with.