American Express Co. fell $3.59 or 4.4 percent, to $77.32. Capital One Financial Corp. fell $1.01 or 1.2 percent, to $82.00. Discover Financial Services fell$. 34 or. 6 percent, to $59.08.» Read More
American Express lost the Costco business, and the company is also cutting jobs. CNBC's Mary Thompson reports on the company's investor day, and CEO Kenneth Chenault's plans to get the company back on track.
American Express will team up with seven companies to launch a loyalty program this spring, The Wall Street Journal reported.
WASHINGTON, March 17- Republican lawmakers took aim at the Dodd-Frank Wall Street reform law Tuesday, unveiling a plan that would gut regulators' authority to manage the collapse of big banks and give Congress direct control of the U.S. consumer finance bureau's budget. The proposal, led by House Budget Committee Chairman Tom Price, pledges to make "great strides...
The increase in the February default rate for bank cards may actually be a good sign for the economy. Here's why.
Consumers added a record $57.1 billion in new credit card debt in 2014, but defaults hit a six-year low, a new survey says.
The "Squawk Box" news team discusses a story from the Wall Street Journal that reports Apple's mobile payment system has been hit by a surge of fraudulent transactions.
BOSTON, March 5- Hotel operator Mandarin Oriental International Ltd said on Thursday that it was the victim of a cyberattack and that it found malicious software on credit card systems at "an isolated number" of hotels in the United States and Europe. The company said in a statement on its website that it was working with credit card companies, law enforcement and...
LONDON, March 5- Fraudsters are slick and smooth when they request new bank accounts or credit cards-- a characteristic an Israeli company wants to use against them. Banks and other financial firms are coming under sustained attacks from increasingly sophisticated cyber criminals, forcing them to spend more money and resources trying to fight hackers.
NEW YORK, March 5- Citigroup Inc had at least one advantage in its successful bid for the exclusive right to issue credit cards for Costco Wholesale Corp, rivals and tax specialists say: it lost so much money during the financial crisis that it has billions of dollars of tax credits. Citigroup and Costco have not disclosed terms of the deal, and outsiders can only...
If your mobile payment app isn't accepted everywhere, one company has come up with a fix.
A startup called Stratos has designed a single credit card for all your accounts, enabled to your smartphone using Bluetooth. Is it safe?
CHICAGO, March 3- New technology about to be deployed by credit card companies will require U.S. consumers to carry a new kind of card and retailers across the nation to upgrade payment terminals. Anre Williams, president of global merchants services at American Express, cited cost and complexity as reasons for not issuing PIN numbers, which would require a much...
March 2- Warehouse club retailer Costco Wholesale Corp said on Monday it had entered into agreements with Citigroup Inc and Visa Inc for co-branded credit cards. Citigroup will become the exclusive issuer of Costco's co-brand credit cards and Visa will replace American Express Co as the credit card network for Costco in the United States and Puerto Rico from...
Costco announced on Monday a new credit card program with Citi in a deal that will go into effect in April 2016. Berkshire Hathaway's Warren Buffett reacts to the deal.
American Express is catering to the affluent once again after taking several blows to its business, the NYT reports.
Recent hits to American Express highlight its flaws, a market strategist said, but another pro sees opportunity in its struggles.
Feb 25- American Express Co is raising interest rates for a large number of its credit cards following a review that began a year ago, a company spokeswoman said. The company sent letters to its cardholders saying it is making adjustments after finding its rates were below those of rival cards, Bloomberg earlier reported, citing a copy of the letter.
Feb 25- American Express Co is raising interest rates for over 1 million cardholders for the first time in more than five years, Bloomberg reported. American Express told customers this month that their annual rates will rise an average of 2.5 percentage points to at least 12.99 percent following a review last year, Bloomberg reported, citing people briefed on...
Two new studies show conflicting data on how prepared Americans are for emergency financial situations.
A disturbing number of Americans have more credit card debt than emergency savings, a new study finds.