American Express earnings released on Friday (July 19) show that consumers continue to spend on experiences — particularly on dining out, and that momentum belongs to the younger generations who are using their cards more often. Spending by millennial and Gen Z customers was up...
Equifax expects its transition to cloud and artificial intelligence (AI) technology to deliver cost savings and drive innovation in 2024 and beyond. The global data, analytics and technology company said in a Thursday (July 18) earnings release that it is leveraging its new EFX Cloud and...
United Airlines set a record as it carried 44.4 million passengers — the highest for any second quarter in its history, the company said Thursday (July 18). “We’re running the best operation in our history,” United Airlines CEO Scott Kirby said during the earnings call...
Commerce Bancshares saw its net income increase 9% year over year, driven in part by expanding net interest margin. For the quarter ended June 30, the Missouri-based regional bank holding company with 142 branches in seven states posted a net income of $139.6 million, up...
Discover Financial Services reported second-quarter results that indicated consumers are turning to debit transactions, while the company’s card sales slipped year on year. CFO John Greene said on the Thursday (July 18) earnings call that Discover card sales were down 3% from the prior year....
Ally Financial reported Wednesday (July 17) that its net charge-offs (NCOs) in the second quarter rose in comparison to the same quarter a year earlier, due in part to losses from loans made when the price of cars peaked about two years ago. While its...
Bank earnings continue to show credit remains a key payments choice. U.S. Bancorp’s earnings, released Wednesday (July 17) indicated that within the company’s payment services segment, credit card payment volumes came in at $36.5 billion, up 4.6% year on year. The average loan balance, overall,...
In today’s uncertain environment, consumers want one thing: choice. That’s because macroeconomic uncertainty over inflation and interest rates is rocking consumer behavior and affecting big-ticket spend across verticals like home, auto and more, leading consumers to scale back on nonessential retail purchases. But as Synchrony...
PNC Financial Services Group saw expected increases in total nonperforming loans and net loan charge-offs in the second quarter. The increases were primarily due to high commercial nonperforming loans and higher commercial real estate (CRE) net loan charge-offs, the bank said in a Tuesday (July...
