US Consumer Borrowing Jumps on Surge in Credit-Card Balances – Yahoo Finance
(Bloomberg) – U.S. consumer borrowing rose more than expected in October, reflecting the largest increase in credit card balances since mid-2022. Most Read Articles on Bloomberg Total credit outstanding rose $19.2 billion after a $3.2 billion increase in September, according to data released Friday by the Federal Reserve. The median forecast in a Bloomberg survey […]
JPMorgan in talks with Apple to take over credit-card program: report
JPMorgan Chase is in talks with Apple about taking over the tech giant's credit card business from Goldman Sachs. The Wall Street Journal reported. Tuesday. Talks reportedly began earlier this year and have progressed in recent weeks, but an agreement could still be several months away. Key details, including price, are reportedly still under negotiation. […]
EBay will no longer take American Express cards, citing 'unacceptably high fees', in the latest shot in the credit-card fee wars – Fortune
EBay is dropping American Express cards as a payment method due to “unacceptably high fees,” according to a statement from the online marketplace. EBay notified customers about the changes on Wednesday, which are set to take effect on Aug. 17. “After careful consideration, eBay has decided that as of August 17th, we will no longer […]
The feds may crack down on credit-card rewards programs. Here's what that means for your points and miles. – Yahoo Finance
Federal authorities are scrutinizing credit card rewards and related frequent flyer programs, arguing that the system is complex and misleading to customers. – MarketWatch Photo Illustration/iStockphoto Federal regulators are taking a closer look at the points and miles consumers earn on credit cards, and this scrutiny could help cardholders get more bang for their buck. […]
Government gets fatter while Americans rack up record-high credit-card debt
“Kudlow” panelists Art Laffer and Steve Moore react to voters abandoning “Bidenomics” ahead of the 2024 presidential election. While the White House was giving a lecture. economic strengthAmericans are drowning in credit card debt, which reached a record $1.13 trillion by the end of last year. Of course, Americans are unhappy with the economy. We […]