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Weekly News Digest

Shopping bags
Weekly News Digest 12 July 2019

Issuers in the US should be pleased by the latest consumer figures from the US Federal Reserve: the annualised monthly growth rate for revolving credit rose by just over eight percent in May, beating the previous high in the year to date, April's 7.9 percent gain. Since there had been a decline in March, the news will be a relief for lenders, while the authorities see no cause for alarm about possible overleveraging. Why? The growth in debt has come in the main from consumers with good credit scores, says the Fed: this is not a subprime bubble in the making. "However, when the next recession inevitably hits, default rates will surely increase", commented Patrick Houlihan of Verisk Financial Research. "Of much greater concern is the rather opaque shadow banking industry, where much of the risk from the pre-Financial Crisis era now resides. More conventionally,... Read more >

Weekly News Digest 5 July 2019

POS-financing draws global schemes | Spanish banks prepare domestic card | Australian Open Banking era begins

Beacon light
Weekly News Digest 28 June 2019

Regulators scrutinise Libra white paper | Bank of England mulls liquidity for fintechs | Citi trims perks on credit cards

libra logo
Weekly News Digest 21 June 2019

Facebook details crypto plans | Discover goes fee-free | 'Bad bank' might liberate Deutsche

Credit cards - abstract
Weekly News Digest 14 June 2019

Amazon/Synchrony subprime card | UK tackles overdrafts | Australians savvy with payments | European air miles an e-currency?

UnionPay logo
Weekly News Digest 7 June 2019

UnionPay readies for European issuance | postal banking on US political agenda | P2P regs tighten in UK

Weekly News Digest 31 May 2019

Merger of Global Payments and TSYS | US charge-offs rise continues | All eyes on Singapore for regional banking throne

Federal Reserve building
Weekly News Digest 24 May 2019

Subprime trend in US credit cards | Digital waves across the Atlantic | Regulators make news in Australia and NZ.

Weekly News Digest 17 May 2019

Citi, Paytm bid to transform credit cards in India | MUFG suffer hit from cards consolidation effort | Tough decisions at Santander and Deutsche.

Weekly News Digest 10 May 2019

US credit card standards tighten while fintechs await regulatory resolution | Singapore's DBS ready to face digital-only challengers.

Weekly News Digest 5 May 2019

Brussels is going to accept an offer from Visa and Mastercard to cut interchange for non-EU cardholders who spend within the bloc.