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  • NEW YORK, Feb 10- The U.S. Department of Justice said on Tuesday that it reached a settlement in its first-ever discrimination case against auto dealers who also finance the purchase of used cars. Two so-called "buy here, pay here" dealerships in Charlotte, North Carolina, Auto Fare Inc and Southeastern Auto Corp, agreed to set aside $225,000 to reimburse...

  • Feb 10- Western Union, the world's largest money-transfer company, reported a better-than-expected quarterly profit, helped by cost cuts and a lower tax bill, and it said it would buy back up to $1.2 billion of shares. Western Union, which gets most of its business from migrant workers sending money home, also forecast 2015 profit above analysts' estimates.

  • NEW YORK, Feb 5- Wells Fargo& Co has agreed to pay $4 million for violations on credit card accounts at a former affiliate, New York Governor Andrew Cuomo said. Wells Fargo will pay a $2 million penalty and $2 million in restitution to consumers after the affiliate illegally took interests in borrowers' homes, in exchange for extending credit for routine credit card...

  • MasterCard profit beats as customers spend more Friday, 30 Jan 2015 | 10:26 AM ET
    Mastercard

    MasterCard reported a better-than-expected profit for the holiday shopping quarter as customers swiped their cards more often.

  • Jan 30- MasterCard Inc, the world's No. 2 debit and credit card company, reported a better-than-expected profit for the holiday shopping quarter as customers swiped their cards more often. U.S. retail sales rose 5.5 percent from the day after Thanksgiving through Christmas Eve as demand for women's apparel, jewelry and casual dining offset sluggish sales of...

  • MasterCard's quarterly profit rises 29 pct Friday, 30 Jan 2015 | 8:09 AM ET

    Jan 30- MasterCard Inc, the world's second-largest debit and credit card company, posted a 29 percent rise in quarterly profit as customers swiped their cards more often. The company's net income rose to $801 million, or 69 cents per share, in the fourth quarter ended Dec. 31 from $623 million, or 52 cents per share, a year earlier. Net revenue rose 14 percent to $2.42...

  • SHANGHAI, Jan 28-- The financial services affiliate of Alibaba launched on Wednesday a system that will use the e-commerce giant's data trove to assess the creditworthiness of Chinese consumers and businesses with little or no history at traditional lenders. The credit-scoring system, Sesame Credit, will mine user data as well as payment histories from...

  • LONDON, Jan 27- Around two million Britons who may have been mis-sold insurance to cover events such as credit card fraud will be asked to vote for a scheme that could cost top banks hundreds of millions of pounds in compensation. The Financial Conduct Authority said on Tuesday 11 lenders and card issuers had voluntarily agreed to compensate customers after "...

  • LONDON, Jan 27- Around two million Britons who may have been mis-sold insurance to cover events such as credit card fraud will be asked to vote for a scheme that could cost top high street banks hundreds of millions of pounds in compensation. The Financial Conduct Authority said on Tuesday 11 lenders and card issuers had voluntarily agreed to compensate...

  • Jan 22- Capital One Financial Corp, one of the largest credit card issuers in the United States, reported a quarterly profit that narrowly missed Wall Street's estimates as the company set aside more money to cover bad loans. Net income attributable to the company's shareholders rose to $974 million, or $1.73 per share, from $835 million, or $1.43 per share.

  • Capital One quarterly profit rises 16.6 pct Thursday, 22 Jan 2015 | 4:23 PM ET

    Jan 22- Credit card issuer Capital One Financial Corp reported a 16.6 percent rise in quarterly profit as the company's net interest income rose. Net income attributable to shareholders rose to $974 million, or $1.73 per share, for the fourth quarter ended Dec. 31, from $835 million, or $1.43 per share, a year earlier. Total net revenue rose about 4.9 percent to $5.81...

  • Jan 21- More than 4,000 employees of American Express Co will lose their jobs over the next year as part of a restructuring program at the credit card company, a spokeswoman said. This will occur over the course a year throughout the organization, " Marina Hoffmann Norville, a spokeswoman for American Express, said in an email. It said American Express would continue...

  • Jan 21- Credit card issuer Discover Financial Services Inc reported a 33 percent drop in quarterly profit as it set aside more money to cover bad loans. Discover's net income allocated to shareholders fell to $392 million, or 87 cents per share, from $588 million, or $1.23 per share, a year earlier. The company's larger rival American Express Co reported a 10.7...

  • Jan 21- Credit card issuer Discover Financial Services Inc reported a 33 percent drop in quarterly profit as it set aside more money to cover bad loans. The company's net income allocated to common shareholders fell to $392 million, or 87 cents per share, in the fourth quarter ended Dec. 31, from $588 million, or $1.23 per share, a year earlier. Revenue, net of interest...

  • AmEx profit rises 10.7 pct Wednesday, 21 Jan 2015 | 4:22 PM ET

    Jan 21- American Express Co, the world's largest credit card issuer, reported a 10.7 percent rise in fourth-quarter profit as customers in the United States spent more using its cards and the company earned higher net interest income. Net income rose to $1.45 billion, or $1.39 per share, for the fourth quarter ended Dec. 31, from $1.31 billion, or $1.21 per share, a year...

  • Jan 16- Two online payday lending companies linked to a professional racecar driver have agreed to pay a record $21 million to resolve charges by U.S. regulators that they engaged in deceptive practices, the Federal Trade Commission said on Friday. The settlement with Kansas- based AMG Services Inc, which serviced the loans, and MNE Services Inc, which lent to...

  • WASHINGTON, Jan 16- The U.S. Fed Chair Janet Yellen and other Fed officials have met with these groups from late last year to hear their concerns, a departure from the practice of previous central bank leaders. A provision to permanently establish a seat at the Fed board for a person with community banking experience awaits the signature of President Barack Obama,...

  • Fed to launch community advisory council Friday, 16 Jan 2015 | 10:00 AM ET

    WASHINGTON, Jan 16- The U.S. Federal Reserve announced on Friday it will establish a community advisory council of 15 citizens to meet regularly with central bank officials for a broad conversation on the state of the economy. In a statement, the Fed said the panel will have "a particular focus on the concerns of low- and moderate-income populations."

  • WASHINGTON, Jan 14- The head of the U.S. Chamber of Commerce charged on Wednesday that Senator Elizabeth Warren and other backers of what he called "economic populism" were actually seeking a state-run economy. Thomas Donohue, the chamber's president and a top business lobbyist, said he did not think most Americans shared the views of Warren, a liberal Democrat and...

  • Jan 14- Wells Fargo& Co, the fourth largest U.S. bank by assets, reported a slight increase in quarterly profit on Wednesday as it earned more from credit cards and corporate loans. Credit cards, one of Wells Fargo's major areas of expansion, were a bright spot as fees rose 12 percent to $925 million in the fourth quarter. Commercial and industrial loans jumped 15...