American Express has published its fourth quarter financial results - reporting a growth of 16% in its worldwide billed business, a 10% increase in total cards issued worldwide, and a 7% increase in average spending per card.   » Continue Reading

Saying that "a society is seriously out of whack when legalized loan sharks are encouraged to close in on those who are broke and desperately ill", New York Times columnist Bob Herbert writes about the credit card industry in his column today titled "Your MasterCard or Your Life". Herbert cites a recent report by Demos and the Access Project titled "Borrowing to Stay Healthy: How Credit Card Debt Is Related to Medical Expenses" that pointed out how frequently credit cards are used for medical-related debts. He concludes by saying "we need to protect financially vulnerable patients from a credit card universe in which there are no legal limits on fees or interest, and where the abuse of customers is the norm."

Mercator Advisory Group has published a new report titled "Commercial Capture Solutions" that examines the rapid growth in check image deposits last year and the increasing use of check images for inter-bank transfers.   » Continue Reading

TowerGroup has published a new research report titled "Fraud, Virus and ID Theft: Mobile Malware Stands to Create a New Beginning" - saying that as the use of mobile devices for banking and payments increases, incidents of mobile virus and mobile malware are likewise going to be on the upswing.   » Continue Reading

Robert B. Willumstad, former President and Chief Operating Officer of Citigroup, and Marge Magner, former Chairman and CEO of Citigroup’s Global Consumer Group, have announced they have established Brysam Global Partners - a specialized private equity firm that will invest in financial services with a focus on consumer opportunities in emerging markets where it can leverage its management and operational expertise.   » Continue Reading

• SkyeTek Closes 2006 with Triple-Digit Revenue Growth
• Leading Prepaid Debit Card Provider Selects NetEconomy's Anti-money Laundering Solution
• Tower Federal Credit Union Chooses Dynamic Card Solutions’ Instant Issuance Technology
• Goldleaf Introduces DepositPlus, an Innovative Tool to Help Financial Institutions Acquire New Customers