NEW YORK-- Target Corp. on Tuesday said it reached a deal to sell its entire consumer credit card business to TD Bank Group, ending an almost two-year search for a buyer. The two companies also entered into a seven-year pact under which TD Bank will underwrite, fund and own future Target credit card and Target Visa receivables in the U.S.
WASHINGTON-- A proposed settlement in a class-action lawsuit brought by retailers and trade groups against Visa Inc. and MasterCard Inc. fails to protect merchants from abuse by credit card companies, a national retail group says.
NEW YORK-- A group of retailers and trade groups has launched a last-ditch effort to stop a settlement worth at least $6 billion that Visa Inc., MasterCard Inc. and major banks have agreed to pay retailers for alleged fee fixing. The proposed settlement, which was disclosed in July, is expected to be submitted to the U.S. District Court in Brooklyn by Oct. 19.
*Alison kutler joins Visa as head of government policy for the americas. *Says previously kutler was vice president, external affairs at rio tinto,. *Source text* Further company coverage ().
*Bluebird card available next week at Walmart stores, online. *Amex gets access to 4,000 stores, spending by underbanked* Wal-Mart brings low pricing to card accounts* Average American pays $200 annually in fees* Shares of rival card companies NetSpend, Green Dot tank.
WASHINGTON-- American Express Co. is paying $112.5 million in refunds and fines to settle regulators' accusations that it charged unlawful late fees and deceived customers to pressure them to pay off old debts or buy extra credit card services. American Express is refunding $85 million to about 250,000 customers and is paying $27.5 million in civil fines.
Analysts from KBW weigh in with their picks of winners and losers in the financial sector if the U.S. falls off the “fiscal cliff.” TheStreet.com reports.
During a time of historically low interest rates, narrowing margins and increasing regulatory burdens, efficiency is the name of the game for many banks. One reporter for TheStreet.com details five efficient bank stocks that may be right for your portfolio.
Groupon is taking on established players like American Express, plus successful startups like Square, which Visa backs, along with PayPal and Google, which are also getting into the mobile payments space.
The recent phenomenon known as mobile payments has caused one Street.com contributor to start looking at some possible casualties in that all-important process known as the business transaction.
Yesterday's move was really impressive, and if bond buying is open-ended then there's no rush to sell stocks or buy protection.
While it has taken 10 years to fully become a reality, there are a few companies that stand to benefit quite a bit from this ongoing shift in tech from the PC, some more than others. Here are four of them. TheStreet.com reports.
The mobile payments industry went mainstream, as Starbucks and Square signed a deal to bring Square's service to Starbucks 7,000 locations. This could change the shape of the payments industry forever.
The global economic downturn is taking its toll on businesses across the globe, but the organization behind the Olympics — the International Olympic Committee (IOC) — seems to be recession-proof.
Take a look at some of Thursday's morning movers:
The credit- and debit-card company delivered a net loss as it set aside money to cover litigation costs but its results beat expectations.
Check out which companies are making headlines after the bell Wednesday:
Michael Phelps is as close to a living Olympic legend as you can get. He's won 16 Olympic medals, including eight golds in the 2008 Beijing Games. But what about his brand and earning power if he loses at the 2012 Games?
“It’s bad news for equities indices. We have to see if like other companies, this is just sort of a hiccup, or there’s something structural here," one pro said.
Corporate earnings reports will compete for attention with whatever Europe throws at markets Tuesday.