Bank of Communications Co Ltd<601328><3328>, the country's fifth-largest bank by total assets, said yesterday that its board of directors has approved a plan to set up a credit card joint venture with strategic investor Hongkong and Shanghai Banking Corp Ltd to tap the nation's underdeveloped credit card market....
By Cong Mu The nation鈥檚 six-month overdue credit card debt rose to 4.97 billion yuan ($730 million) at the end of the first quarter, up 133.1 percent from the same period last year, according to the latest report released by the People鈥檚 Bank of China (PBC). Credit card debt made up 3 percen...
* U.S. credit card default rate rises to 9.41 percent * International card default rate rises to 9.77 percent * Shares fall 1.8 percent to $23.50 in premarket trading (Updates with analyst comment, stock fall,...
WASHINGTON, June 4 - Merchants and retailers would be able to negotiate with banks to reduce costs associated with credit card purchases, according to legislation introduced on Thursday by lawmakers in the U.S. House of...
* Visa's CEO sees restructuring of credit card industry * Sees signs that the U.S. economy may be improving * Credit card bill will not change Visa's forecast NEW YORK, June 2 - Visa Inc,...
WASHINGTON, May 22 - U.S. President Barack Obama signed into law on Friday sweeping reforms that restrict credit card interest rates and fees, marking a victory for Democrats trying to help recession-weary consumers. But the...
WASHINGTON, May 22 - U.S. President Barack Obama signed into law on Friday sweeping reforms that restrict credit card interest rates and fees, marking a victory for Democrats trying to help recession-weary consumers. But the...
WELLINGTON, May 21 - Credit card billings in New Zealand rose in April, pointing to a tentative improvement in consumer sentiment, central bank data showed on Thursday. The Reserve Bank of New Zealand said total...
WASHINGTON, May 20 - President Barack Obama will sign credit card reform legislation this Friday, a White House official said following final congressional approval of the legislation on Wednesday. The signing ceremony is slated for...
WASHINGTON, May 20 - President Barack Obama looks forward to quickly signing a credit card reform bill passed on Wednesday by Congress, the White House said. "Obviously this has been something the president has championed,"...