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Paige SmithFortune |
The legal fight over credit card swipe "interchange" fees dates back to at least 2005 — before both Visa and Mastercard were spun off.
The Fed chair told lawmakers on the Senate Banking Committee that the Fed is talking with lenders to make sure they are on top of potential losses.
Charles Schwab Corp. reported declines in profit, new assets and deposits — a set of results that initially sent its shares tumbling.
Traditional lenders are joining firms like Affirm, Klarna, and Afterpay in giving customers shorter-term borrowing options.
Schwab said in August it planned to cut jobs and close or downsize offices to achieve at least $500 million in annual cost savings.
Discover Financial Services said it's seeing higher loan balances and increasing delinquencies among credit card users.
Blaming "higher interest rates," the company said it will fire 172 employees and report a steep decline in profit.
He says “It’s not fun watching some of the personal attacks in the press.”