Wells Fargo has announced that it will 'offer proprietary single-use accounts to its commercial card customers for business-to-business (B2B) purchases. Both Visa and MasterCard commercial card customers will be able to use the pre-approved accounts that reduce fraud and control spending.'   » Continue Reading

CNNMoney.com carries an AP story on the on-going debate between the card companies and US merchants over payment card interchange fees. 'Visa and MasterCard defend the fees as a way to pay for the convenience and security of credit card transactions. The banks that issue cards are on the hook for any fraudulent transactions, rather than consumers, and the banks also take the credit risk that the consumer may not pay.'

The Denver Business Journal cites a statement issued earlier today by First Data Corp. on the Frontier Airlines bankruptcy filing.

What do you call a company that sells jet engines, runs multiple television/cable networks, has a huge global financial services operation, and just reported a significant earnings miss this morning? That's GE. And the reason for what one columnist called GE's "gasp-inducing first-quarter results"? Financial services primarily - both commercial and consumer. Details in this press release and accompanying presentation. A webcast of this morning's earnings call is also available.

RBC has published the latest edition of its RBC CASH (Consumer Attitudes and Spending by Household) Index reporting that 'pessimism among U. S. consumers continues to spread as Americans' sentiments concerning the future turn particularly gloomy.'   » Continue Reading

SunTrust has announced the launch of its Enterprise Spend Platform - calling it 'an industry-leading end-to-end commercial card management solution, offering businesses, government entities and non-profits comprehensive online capabilities for control beyond simple card management in travel and entertainment, procurement and payables.'   » Continue Reading

Frontier Airlines this morning announced it had voluntarily filed to reorganize under Chapter 11 of the U.S. Bankruptcy Code late last night. The airline is continuing normal flight operations today.   » Continue Reading

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