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MBNA Corp. reported that chargeoffs and delinquencies dropped last month, while managed loans rose, and Laura Kaster, an analyst with Sandler O'Neill & Partners LP, called the performance a strong [...]

American Express Co. agreed to restructure its card acceptance agreement with Delta Airlines Inc., which filed for Chapter 11 bankruptcy protection last week. Delta agreed to repay $500 million that [...]

The growth of branded prepaid debit cards, which are used mostly by the unbanked, has boosted demand for outlets where they can be reloaded easily. MoneyGram International Inc. planned to [...]

A preliminary prospectus MasterCard Inc. filed Thursday gave potential investors a glimpse into the competitive pressures and business risks it faces -- along with a few more details on how [...]

Sticking to its plan to buy Hibernia Corp. of New Orleans meant buying into the theory that Hurricane Katrina will eventually benefit banks in the affected region, Capital One Financial [...]

The coming implementation of tighter bankruptcy filing rules, combined with the effects of Hurricane Katrina, will push U.S. credit card chargeoffs higher the rest of this year and into next [...]

Capital One Financial Corp. reported a drop in chargeoffs for August along with a slight rise in delinquencies in its loan portfolio. The McLean, Va., lender said Monday that chargeoffs [...]

A Delaware District Court has ordered Advanta Corp. to pay $17.5 million plus interest to Chase Manhattan Mortgage Corp. to resolve a 2001 lawsuit related to its purchase of Advanta's [...]

MasterCard International Inc. said it will delay the enactment of a planned fee for U.S. merchant-acquirers on cross-border transactions between a U.S. merchant and a foreign cardholder. A MasterCard spokeswoman [...]

The Denver processor First Data Corp. said Thursday that Jim Schoedinger, the president of its card-issuing services unit, will leave the company today to pursue other interests. Analysts differed on [...]

The pending acquisitions of top credit card issuers by large banking companies have analysts wondering about the potential effect on the card sector's transparency. Investors are used to getting monthly [...]

Hurricane Katrina, which drove through New Orleans on Monday, had Wall Street mulling the possible effects on Capital One Financial Corp.'s deal to buy Hibernia Corp. Capital One spokeswoman Tatiana [...]

Citing a rise in the price, Ross A. Demmerle, a Hilliard Lyons Equity Research analyst, downgraded the McLean, Va., lender Capital One Financial Corp.'s stock to 'long-term buy,' from 'buy.' [...]

Customers of an American Express Co. loyalty program can now redeem points for discounted travel on private planes. A new feature of the program, Private Jet Rewards, lets customers use [...]

JPMorgan Chase & Co. will award double miles for school expenses of more than $1,000 charged to its United Mileage Plus Visa cards through the end of the year. The [...]

Citigroup Inc. will issue keychain-size contactless payment fobs as companions to its MasterCard credit and debit cards beginning in October. Over time it will mail at least 2.5 million of [...]

For the first time, Fifth Third Bancorp of Cincinnati has a representative on the board of MasterCard International's U.S. region. The Purchase, N.Y., payments company said Tuesday that Charles Drucker, [...]

Four years after losing QVC Inc.'s private-label credit card business, GE Consumer Finance has won it back, largely by letting customers pay their card bills online. Mark Tabak, the vice [...]

Midland Credit Management Inc., a San Diego collection unit of Encore Capital Group Inc., cancelled $3.5 million of credit card debt owed by 3,536 West Virginians under a settlement with [...]

Muzo AS, a Prague payment processing subsidiary of Global Payments Inc. of Atlanta, has agreed to provide card personalization services in the Czech Republic for Citigroup Inc.'s Diners Club. The [...]

Now that Morgan Stanley has decided to keep Discover Financial Services Inc., the credit card unit says there are two previously unrealized areas where it can make more of the [...]

KeyBank says making its debit cards contactless will help the technology take off in the fast food and convenience store markets. Proponents of the technology also say the cards are [...]

GE Consumer Finance has agreed to buy E-Trade Consumer Finance Corp., a boat and recreational vehicle lender, from E-Trade Financial Corp. for $60 million in cash. Under a deal announced [...]

GE Consumer Finance will soon begin issuing PayPass contactless payment cards for the Grand Rapids retailer Meijer Stores. All of Meijer's 171 stores will begin accepting the cards, the retailer [...]

Marriott International and Carlson Hotels Worldwide have expanded their participation in MasterCard International's hotel folio data program. The Purchase, N.Y., association announced Monday that more Marriott and Carlson hotels will [...]

FSV Payment Systems Inc. of Houston and Meta Payment Systems, a division of the Storm Lake, Iowa, savings bank MetaBank, have teamed up to offer a stored-value gift card program [...]

Providian Financial Corp. of San Francisco announced that the July loss ratio on its credit card portfolio dropped 55 basis points from the previous month, to 7.42%. Delinquencies rose 12 [...]

Credit card merchant acquirers and processors are demanding large deposits from airlines to cover the cost of reimbursements for unused tickets if they fail. Last week US Airways said it [...]

American Express Co. got an upgrade, a higher target price, and a more optimistic earnings forecast from Kenneth Posner, a Morgan Stanley analyst. Mr. Posner upgraded Amex's stock Wednesday to [...]

Capital One Financial Corp. of McLean, Va., reported that credit losses increased slightly last month, but its portfolio grew. The managed chargeoff ratio rose 6 basis points from June, to [...]

Providian Financial Corp. settled an investigation by the civil division of the Justice Department into allegations that it and its processor, Total System Services Inc., received bulk postage rates on [...]

MBNA Corp. said its MBNA Europe had acquired the British home equity lender Marlin House Holdings Ltd. on Aug. 1. In a securities filing Tuesday, MBNA, of Wilmington, Del., did [...]

Juniper Financial Corp. has lured away Bank of America Corp.'s only national airline cobranded credit card partner -- US Airways Group -- by agreeing to pay almost $500 million. After [...]

Juniper Financial Corp.'s chief financial officer says he is on loan from the parent Barclays Group PLC to make the most of Barclays' U.S. businesses and connections -- and not [...]

Parents are planning to spend more money this year on notebooks, pencils, highlighters, and other school supplies, according to a study commissioned by MasterCard International. The average family's back-to-school spending [...]

JPMorgan Chase & Co. has dropped an unpopular fee on single-currency crossborder transactions, following the lead of Visa U.S.A. JPMorgan Chase had been passing along the fee and adding its [...]

Capital One Financial Corp. of McLean, Va., may be mulling the idea of getting into student lending, though its chairman and chief executive, Richard Fairbank, says there are no immediate [...]

In a ruling that could influence other merchant lawsuits against Visa U.S.A. and MasterCard International, a federal judge dismissed an antitrust suit against the two card companies and three member [...]

MBNA Corp. has lost a cobranded card partnership to a rival. Gander Mountain Co., a retailer of outdoors lifestyle goods, said Monday that it would end the cobrand card partnership [...]

Capital One Financial Corp. may be in the market for more auto lending acquisitions. At a lunch meeting with analysts Friday, Richard Fairbank, the McleanMcLean, Va., company's chairman and chief [...]

Two major credit card issuers say they want to go after MBNA Corp.'s agent banking clients after it merges with Bank of America Corp. Richard D. Fairbank, Capital One Financial [...]

In a sign of intense rivalry for accounts and eagerness by issuers to make good on investments in reward programs, credit card mail solicitations hit an all-time high in the [...]

In its last full quarter before it would gain a retail banking network by buying Hibernia Corp., Capital One Financial Corp. of McLean, Va., made $531.1 million, 30% more than [...]

The lawsuit over interchange that a group of major grocery and drugstore chains filed against Visa U.S.A. last week is notable more for what it does not say than for [...]

Earnings reports Monday by three of the top five credit card issuers showed growth remains hard to come by, and credit quality is hitting some rough patches. Citigroup Inc.'s North [...]

In hopes of spurring tougher credit card regulations, a consumer group released a study that compares the rates and terms offered by the top bank issuers with those of credit [...]

A judge has decided that a merchant lawsuit against American Express Co. can proceed. At issue is the New York card issuer's practice of requiring merchants that accept its charge [...]

Discover Financial Services Inc. is mulling whether to follow the other three major credit card brands into the contactless payment market. MasterCard International, Visa U.S.A., and American Express Co. have [...]

Credit card issuer master trusts performed well in May, with fewer over-60-day delinquencies and a higher payment rate, yield, and excess spread, according to Standard & Poor's. The ratings agency [...]

Washington Mutual Inc.'s falling share price has prompted a downgrade for the credit card issuer Providian Financial Corp., which Wamu has agreed to buy for $6.45 billion. Michael T. Vinciquerra, [...]