The man accused of masterminding the largest identity theft in U.S. history agreed to plead guilty to related charges, according to court papers filed in Boston federal court Friday.

The rate at which credit card holders fell behind on their payments was far worse in the second quarter than it was last year, but did improve sharply from the alarming level seen in the first three months of 2009.

Bank of America said that as of Thursday it will stop requiring that disputes with its credit card holders and banking and lending customers be settled by binding arbitration, opening the door for class-action and other lawsuits to push up the bank's legal costs.

The noxious penalty imposed on American Express and Discover consumers who exceeded their spending limit has finally died, quashed by legislation signed in May by President Obama to ease onerous fees for cardholders.

The Federal Reserve says consumers paid down their credit cards and reduced other debt in June for the fifth straight month as they rebuild savings battered by the recession.

Stocks rallied Thursday, logging the highest close since November, despite a late-afternoon pullback.

Stocks rallied Thursday as investors were encouraged by the latest jobless report and round of corporate earnings.

Stocks rallied Thursday as investors were encouraged by the latest jobless report and round of corporate earnings.

Futures indicated a higher open for Wall Street on Thursday as investors were encouraged by the latest jobless report and round of corporate earnings.

Visa reported better-than-expected quarterly earnings, as the it  sold its stake in Brazil's VisaNet, trimmed expenses and consumers used debit cards more.

Lydia Alcock doesn’t seem like the kind of kid who would run up a $23 quadrillion bill on her Visa Buxx card.

Merchants across the nation have spent years unsuccessfully fighting interchange fees, which generates an estimated $40 billion to $50 billion in income annually for banks that issue credit cards. But after Congress passed a law last month to protect consumers from excessive fees and interest on credit cards, merchants are mounting a fresh offensive.

American Express Chief Executive Kenneth Chenault says he has seen signs of stabilization in the economy, but there have not been any signs of improvement yet.

The Founding Fathers left one legacy not celebrated on Independence Day but which affects us all. It's the national debt.

Despite swelling delinquencies and reform pressure from the government, credit card companies are using pricing power and staying power to emerge as a favorite among market pros.