In Other News: US BANK (app); D&B (survey); FTC (Chicago); and CFPB (loan scam). US BANK – Securely logging in to mobile banking just got easier for U.S. Bank customers with the release of an updated version of the U.S. Bank Mobile app for iPhone. The new app gives customers an option to use Touch…
Green Dot confirms it has migrated an additional 15 million account files to the MasterCard Payment Transaction Services (PTS) processing platform during the second planned conversion wave which was completed in March. Including the first wave of account migrations, this brings the total number of account files successfully migrated to approximately 50 million. The processor…
The latest figures reveal 67% of U.S.-issued MasterCard-branded consumer credit cards now feature chips. This represents a 51% increase in the number of consumer credit cards with chips in market since the October 1, 2015 liability shift. Consumers can use their chip cards in more places, as 1.2 million U.S. merchant locations – an increase…
Walmart is now offering rewards for purchases made with either the Walmart Credit Card, the Walmart MasterCard or the Walmart MoneyCards. The new, simplified rewards value proposition – 3-2-1 Save – add mpre value to the Walmart family of credit and prepaid cards, issued and administered by Synchrony Bank and Green Dot Bank, respectively. The…
U.K. consumer credit in February grew at a 9.3% annual rate to £180.7 billion. Within consumer credit, credit card lending increased by 6.7% year-on-year (YOY) to £63.8 billion and other loans/ advances increased by 10.9% YOY to £116.9 billion. All figures are seasonally adjusted. Credit card lending increased by £0.2 billion in February, compared to…
January consumer revolving credit card debt increased at an annual rate of -1.3%, compared to +7.0% in December and +8.4% in November. Overall consumer credit increased at a seasonally adjusted annual rate of +3.6%. Non-revolving credit increased at an annual rate of +5.4%. Total revolving credit for January posted at $935.3 billion, compared to a…
The 30+ day delinquency rate (not seasonally adjusted) for the top 100 U.S. banks increased 2 basis points (bps) sequentially, and up 1 bps from one-year ago for the fourth quarter (4Q/15). Among the nation’s top four card issuers, delinquency edged up by 5 bps from the prior quarter, but dropped year-on-year (YOY) by 3…