Holiday shoppers are projected to spend a record $12 billion to 12.4 billion online on Cyber Monday 2023, according to Adobe Analytics. Cyber Monday caps off the first weekend of the traditional holiday shopping season that begins Thanksgiving Day. Overall, Adobe projects online sales for the five days between Thanksgiving …

With Black Friday and Cyber Monday days away, one prediction calls for consumers to spend an average of $567 in the Thursday through Monday period. Released by consulting and advisory firm Deloitte, the forecast says that average spend will be 13% higher than in the same period in 2022. Perhaps …

Consumers’ concerns about incurring credit card debt this holiday season is pushing many shoppers to consider buy now, pay later loans as a budget-management option, according to a report from the payments firm Klarna AB. Some 53% of respondents expressed concern about incurring credit card debt during the holiday season. …

According to recent research, American households carried a whopping $17.1 trillion in total debt as of the second quarter of 2023. The herculean effort to become debt-free continues to weigh on the shoulders of millions of Americans. We’ve seen the landscape of the U.S. workforce change drastically over the past …

Last year, credit card issuers charged consumers more than $105 billion in interest and more than $25 billion in fees, $14.5 billion of which came from late fees, according to the Consumer Financial Protection Bureau’s biennial credit card market report. Credit card holders paid about 20% of their average balance …

With the fourth quarter under way, fraudsters are increasing the sophistication of their attacks while consumers are gearing up for a busy holiday-shopping season, albeit with different goals. First, a new report from Au10tix, an Israel-based identity verification and management provider, found a 44% increase compared to preceding quarters in …

The Credit Card Competition Act (CCCA) looks to be headed for a vote before the end of the year, spurred in part by Sen. Dick Durbin’s recent urging that it be brought to the Senate floor. While the Illinois Senator is of the mind it will help increase industrywide competition …

Supporters and U.S. Senate sponsors of the Credit Card Competition Act stepped up pressure to pass the bill Wednesday with a Washington press conference featuring Senators Dick Durbin (D-Ill.), Roger Marshall (R-Kan.), and Peter Welch (D-Vt.). The legislators attacked merchants’ card-transaction costs as price gouging and said the levies make …

The Credit Card Competition Act is back in play. But as Congress debates the bill, a pressing question looms about its biggest requirement: Who are the Visa and Mastercard alternatives supposed to be? Senator Richard Durbin is back at it. After failing to advance the Credit Card Competition Act out …

Card skimming remains a vexing problem in the United States, with the number of reported incidents increasing 20% during the first half of 2023 compared to the same period in 2022, according to the credit-data firm FICO. More concerning, however, is that the number of cards compromised as a result …