The Federal Reserve Board has announced the consolidation of two internal advisory committees on payments system matters, the Payments System Policy Advisory Committee and the Payments System Development Committee.

JP Morgan Chase reported first quarter financial results this morning. The dynamics reported in its card business this quarter include revenue essentially flat but net income up substantially - 73 percent - over the prior year due primarily to lower bankruptcy-related credit losses. As with some other issuers this quarter, Chase reported a 5.6 percent decline in its outstanding loans over the prior quarter as consumers paid off balances at an accelerated rate - at least partially due to changes in the minimum payment amount due on outstanding balances.

• $80 Mil. Discover Picks The Martin Agency
• MasterCard International Hosts 2006 Global Public Sector Forum
• World's First Commercial Roll Out of Near Field Communication (NFC) Technology Simplifies Travel for Consumers
• Hawaii's American Savings Bank Joins NYCE Network; American Savings Bank expands its relationship with Metavante as NYCE extends its presence in the Aloha State
• Barnes & Noble Enhances Member Program with New Credit Card; Barnes & Noble and Barclays Team Up to Offer Substantial Savings with the Barnes & Noble Member MasterCard
• Affinion and Edentify Join Forces to Advance Fraud Detection Services
• Hypercom Introduces Smallest Handheld Wireless Payment and General Purpose Terminal; Leapfrogs Competition with Device for Businesses Worldwide
• eBay's PayPal to lease large west Dublin building
• Take a closer peek at your credit card bill; interest rates are on the rise
• Denver: Credit Cards Receipts From Dozens Of Businesses Stolen
• North Carolina: Unemployment Debit Cards