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  • LOAN DELINQUENCY RATE UNCHANGED IN Q4 AT 4.3 PCT, BUT STUDENT LOAN AND AUTO LOAN DELINQUENCIES WORSENED- NY FED.

  • STUDENT LOAN DELINQUENCY RATE ROSE TO 11.3 PCT IN Q4 VS 11.1 PCT IN Q3, AUTO LOANS TO 3.5 PCT VS 3.1 PCT- NY FED.

  • On Wednesday, American Express Co said it would stop offering a co-branded credit card with Costco when its contract with the retailer ends in March 2016. These products are big business for companies such as American Express- nearly a third of the company's purchase volume is on co-branded cards. The official noted that banks that issue Visa or Mastercard...

  • Unpaid Chinese credit card bills leap 42 pct in 2014 Thursday, 12 Feb 2015 | 11:45 PM ET

    BEIJING, Feb 13- Credit card arrears in China leapt 42 percent last year to 35.8 billion yuan, central bank data showed, highlighting rising financial risks in the world's second-largest economy as growth cools to a 24- year old low. Unpaid credit card bills that were outstanding for at least six months jumped 10.6 billion yuan last year compared with 2013, data...

  • Feb 12- American Express Co said Costco Wholesale Corp would stop accepting its cards in the United States from next April, after the companies failed to reach terms on renewal of an agreement. Costco has already replaced American Express with Capital One Financial Corp as its credit-card issuer in Canada, starting this year. Costco has 468 warehouses in the...

  • Feb 12- American Express Co said it will stop issuing credit cards co-branded with Costco Wholesale Corp in the United States from March 31, 2016.

  • 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...