Demand for credit cards remains relatively stable and banks are introducing new technologies like AI and chatbots into the payments experience, according to the biennial Credit CARD Act report released by the Consumer Financial Protection Bureau today.
A lack of understanding about credit card rewards offerings may affect consumers’ satisfaction with their issuer, according to the J.D. Power 2019 Credit Card Satisfaction Study released today.
In a long-awaited decision, the Federal Reserve today announced it would develop FedNow, its own 24/7/365 real-time settlement service designed to serve all U.S. depository institutions.
As a share of disposable income, credit card credit outstanding (seasonally adjusted) eased 3 basis points to 5.40 percent in the first quarter. Credit card leverage is essentially unchanged over the last five quarters and is equivalent to levels from early 2013.
Credit card use moderated in the first quarter of 2019, according to the American Bankers Association’s latest Credit Card Market Monitor released today.
Debit card use and market penetration continued to grow last year, while fraud losses declined, according to Pulse’s debit issuer survey released this morning.
As the Federal Reserve weighs whether to develop a real-time payments option, an American Banker op-ed today noted that community banks cannot afford to wait on a Fed solution to offer this technology to their customers.
ABA last week submitted comments in support of the Federal Reserve’s recent proposal to modify the Federal Reserve Banks’ National Settlement Service and Fedwire Funds Service to accommodate a third same-day ACH processing and settlement window.