ATHENS, June 29- Greece imposed capital controls and ordered banks to close temporarily after the European Central Bank froze a vital financial lifeline following the breakdown of bailout talks between Athens and foreign creditors. All credit institutions in Greece, including branches of foreign banks, are affected. -Payments via debit or credit cards to...» Read More
The switch to new chips in credit and debit cards poses a threat for small companies reports the AP.
American Express lost its bid to block a judge's ruling that allows merchants to steer customers away from using its cards.
NEW YORK— New credit and debit cards with computer chips are putting the squeeze on small businesses. If businesses don't meet the deadline set by companies including MasterCard, Visa and American Express, they can be held liable for transactions made with phony chip cards. "This is one of the biggest nightmares merchants are going to face," says Michael Kleinman,...
June 16- Credit card issuer Discover Financial Services said it would close its mortgage origination business and cut about 460 related jobs to focus on its direct banking products. Discover Financial, which acquired the mortgage origination business in 2012, said it would continue to originate home equity loans through Discover Bank.
The average American consumer needs better credit options so they can build a nest-egg for a more secure future, says Elevate CEO Ken Rees.
American Express needs to up its rewards game to stay competitive according to Nomura Holdings
NEW YORK, May 28- Citigroup Inc CEO Mike Corbat said the deal the bank made with Costco Wholesale Corp to replace American Express Co as the issuer of credit cards for the retailer will be profitable for his shareholders. Responding to speculation in the card industry that Citigroup gave too much to Costco in negotiations earlier, Corbat said the deal is "without a...
TORONTO, May 26- Toronto Dominion Bank said on Tuesday it will acquire Nordstrom's U.S. consumer credit card portfolio as the Canadian bank looks to use its strong balance sheet to expand its lending business in the United States. But under the terms, Nordstrom will receive a large slice of net revenue generated by the credit card accounts. Nordstrom's U.S. credit...
GREECE MAY IMPOSE SMALL LEVY ON BANK ATM WITHDRAWALS TO ENCOURAGE USE OF CREDIT CARDS- FINANCE MINISTER VAROUFAKIS.
CNBC's Landon Dowdy highlights four guidelines to help you pick the best credit card.
May 22- A proposed $19 million settlement between MasterCard Inc and Target Corp over the retailer's 2013 data breach fell through after not enough banks accepted the deal, the credit card company said on Thursday. The lead lawyers for the banks had argued that the settlement with MasterCard, which was not a party to the lawsuit, was an attempt to undercut their...
Seventy percent of women who sought fertility treatments went into debt, according to a new study.
Square CEO Jack Dorsey discusses his lessons learned at Twitter, Square's payment tools and staying competitive.
The company's small credit card reader has made it easier for small businesses to accept payment. Now it's promoting a new lending program.
No taxpayer dollars were spent on the transactions, and some employees have already been disciplined, officials told NBC News.
American Express will roll out its new loyalty program, Plenti, allowing U.S. shoppers for the first time to earn rewards points through purchases.
Hard Rock Hotel& Casino Las Vegas said an attack may have allowed hackers to steal credit card information used at its retail and service locations.
May 1- Hard Rock Hotel& Casino Las Vegas said on Friday a malware attack may have allowed hackers to steal credit card information used at its retail and service locations. The attack, discovered on April 3, was limited to credit or debit card transactions between Sept. 3, 2014 and April 2, 2015, at the company's restaurant, bar and retail locations, including the...
Merchants win a legal fight with American Express. CNBC's Morgan Brennan reports.
NEW YORK, April 30- Merchants unhappy with the fees American Express Co charges them may steer customers toward less expensive cards without fearing retaliation from the credit card company, a federal judge ruled on Thursday. Judge Nicholas Garaufis in Brooklyn federal court said American Express may not stop restaurants and stores, for instance, from...