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The coronavirus pandemic has forced US credit card providers to adapt rewards, enhance forbearance, and build out digital tools to cope with a volume hit in 2020. As we enter the next three stages of pandemic recovery in 2021, how will spending trends and underwriting risk shift for issuers? The following is a preview of one Financial Services report, Credit Cards in the 'Next Normal'. You can purchase this report here. Credit card profits and returns have been dwindling for years, but were expected to grow in 2020. The pandemic put a wrench in these plans, as unemployment, store closures, a...

"Banks should not be handed a growing windfall at the expense of Main Street stores and consumers." NRF General Counsel Stephanie Martz WASHINGTON – Retailers filed a lawsuit today seeking to have the Federal Reserve lower its 10-year-old cap on “swipe” fees banks charge to process debit card transactions, saying the agency wrongly applied federal law and that merchants have paid billions of dollars more than intended by Congress while banks’ costs have fallen. “The Fed allowed fees that were much too high in the first place,” National Retail Federation Chief Administrative Office...

Provided by Dow Jones Apr 7, 2021 2:18 PM UTC Mr. Navarro wanted to use computer programs to estimate the profitability of debt portfolios. He assembled a 100-person information-technology staff, hired people with front-office experience and integrated the company's various business units so they could handle bigger volumes and different types of debt, according to a 2006 report to investors. To get Sherman off the ground, Mr. Navarro sold 91% of the firm for $40 million to two insurance firms. "They had phenomenal analytics," said Daniel Gross, the former CEO of...

Slydemoney.com Slyde is a consumer fintech company saving users time and money on bill and subscription payments. We make it easy to track, manage, and pay recurring bills and subscriptions from a single place while helping users avoid unnecessary fees and take control of their financial lives. About the Program: Falls Fintech is a custom, 12-week program designed to accelerate market readiness for early-stage financial technology startups. The high-intensity curriculum is delivered by a distinguished group of payments, technology, and banking professionals. In addition to a financial investm...

Visa Inc. and Mastercard Inc. are planning to raise swipe fees for some types of credit-card purchases in April, adding to the squeeze felt by restaurants, retailers and other merchants already struggling through the Covid-19 pandemic.