Details Written by: RJ The Consumer Financial Protection Bureau (CFPB) has been ordered to shut down. Russell Vought, the new director of the Office of Management and Budget, directed the CFPB, in a Saturday night email confirmed by The Associated Press, to stop work on proposed rules, to suspend the effective dates on any rules that…
Details Written by: RJ New JetBlue card is now live: JetBlue Premier Annual fee: $499 ($150 for authorized user cards) Multipliers 6x JetBlue & Paisly purchases 2x Grocery stores and restaurants 1x All purchases Benefits 5k anniversary points each year Global Entry or TSA Pre-check Priority Pass select Up to $300 in statement credit per…
Details Written by: RJ Ally is selling their credit card portfolio to CardWorks PRNewswire/ — Ally Financial Inc. (NYSE: ALLY) and CardWorks, Inc. today announced that they have entered into a definitive agreement for CardWorks, and its wholly-owned bank subsidiary, Merrick Bank, to acquire Ally’s credit card business, including a portfolio of $2.3 billion in credit…
Details Written by: RJ CNBC is reporting on an American Express settlement with the DOJ American Express will pay a total of about $230 million to resolve federal wire fraud investigations, and to settle civil allegations of deceptive marketing, the company said Thursday. Separately, the banking giant will pay $108.7 million to resolve civil…
Details Written by: RJ New reporting from MacRumors states Apple is in talks with three banks to potentially become the new home of Apple Card Barclays Synchrony Chase Talks with Barclays started a few months ago and are still ongoing, likely a ways away from a deal. Chase of course has been kicking the can…
Details Written by: RJ In a recent Reuters interview, Goldman Sachs top boss says the Apple Card contract could end early: “We have a contract with Apple to run that partnership until 2030, although there’s some possibility that it won’t continue until that time frame,” Solomon told analysts on an earnings call. MacRumors Thoughts Don’t…
Details Written by: RJ WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) sued Capital One, N.A., and its parent holding company, Capital One Financial Corp., for cheating millions of consumers out of more than $2 billion in interest. The CFPB alleges that Capital One promised consumers that its flagship “360 Savings” account provided…
Details Written by: RJ In a recent interview about cutting mortgage operations, Ally Banks top boss also tossed in a hint at credit cards: Rhodes also indicated in December that the credit-card business wasn’t a core focus for the bank. In an email to Banking Dive, Gilchrist said Ally was exploring “strategic alternatives” for its…
Details Written by: RJ The CFPB has implemented a rule that will remove medical debt from credit reports: WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will remove an estimated $49 billion in medical bills from the credit reports of about 15 million Americans. The CFPB’s action will…
Details Written by: RJ The American Express Business Platinum card has added a new credit. There’s now a $200 Hilton credit available. Cardholders must enroll in the credit and signup for Hilton Business. The credit is the standard Amex format, $50/quarter and doesn’t roll over. The credit is triggered by booking directly and paid as…