Brian Riley

Florida

Contributor at PaymentsJournal

Brian Riley Payment Expert: #Debit, #Credit, #Prepaid, #Mobile Payments

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Articles

Capital One Moves Forward

1 week ago | paymentsjournal.com | Brian Riley

It is more than a big deal that the Capital One-Discover acquisition passed its last two regulatory hurdles. The biggest credit card deal in U.S. history moves forward in mid-May 2025. In an all-stock deal, more than $100 billion in loan book will pass to Capital One, leaping the Richmond, VA lender to the top of U.S. credit card issuing, as The New York Times reports.
Late Fees: No Longer Junk, Back to Contractual Commitments

2 weeks ago | paymentsjournal.com | Brian Riley

Back in the old days of 2023, regulators were calling late fees “junk.” We kept calling them “contractual commitments,” as you can read here. Today, the American Banker notes that regulators have backed down from their attempt to mandate that credit card late fees be reduced from an average of $32 to $8, in a turnaround that will close outstanding litigation, as they report on the latest change.
Global Indemnity Group Q1 2025 Earnings Release & Conference Call

2 weeks ago | businesswire.com | Brian Riley

WILMINGTON, Del.--(BUSINESS WIRE)--Global Indemnity Group, LLC (NYSE:GBLI) (“GBLI”), announced today that it will release its first quarter 2025 earnings before market open on Wednesday, May 7, 2025. GBLI will hold an earnings call to discuss first quarter 2025 results on Wednesday, May 7, 2025 at 11:00 a.m. Eastern. The earnings call will be webcast on GBLI’s website at www.gbli.com.
No Buyers for the Apple Card, but the Technology Is Hot

3 weeks ago | paymentsjournal.com | Brian Riley

The WSJ reported that Visa is considering a $100 million bid to shift the Apple Card’s network alignment from Mastercard to Visa. While this change will not help Goldman Sachs navigate its way out of its troubled consumer lending issue—which Goldman announced it wanted to shutter back in 2022—the deal illustrates the importance of Apple’s payment technologies. Goldman’s loan portfolio has had its warts. High charge-offs were an issue with the GM co-brand when Barclaycard took over the receivables.
Everyone Can Use an iPhone, But an Apple Card Isn’t for Everyone

Sep 10, 2024 | paymentsjournal.com | Brian Riley

Full Disclosure: I love my iPhone. It is a paid-in-full iPhone XS Max that is six years old and works like a champ. Sooner or later, Apple will stop updating the device, but until then, my investment is on the right side of the power curve. I also have an Apple credit card. It has never had more than $80 posted in a month. I used the physical card only once and never paid any interest.
College Credit Cards: Getting Pizza & Beer Isn't Like it Used to Be

Aug 2, 2024 | paymentsjournal.com | Brian Riley

Getting a college credit card was easy back in the day. Issuers flocked to the segment, which in 1990 represented a block of 14 million people and is currently north of 20 million. I recollect that well-intended parents allowed credit cards to facilitate money movement, meals, and bookstore purchases. Still, the attractive nuisance of a credit card often resulted in free spending and extracurricular purchasing.
Best Practices in Secured Credit Cards: Key Bank Still Nails It

Jul 31, 2024 | paymentsjournal.com | Brian Riley

Not every consumer warrants an Amex Gold Card, a Chase Sapphire, or a Citi Custom Cash Card. With consumer credit so aligned with household budgets, you can be confident that every consumer won’t hold a FICO score of 760 or better. With more than 100 million households having a credit card as a spending option, a good credit manager expects that a portion of the portfolio will face challenges such as unemployment, household discord, indebtedness, and turmoil.
Coming of Age for Millennials: American Express Nails It Again

Jun 3, 2024 | paymentsjournal.com | Brian Riley

During my (very long) career in credit cards, I’ve held Mastercard and Visas at every top bank, but there was a trigger point in 1998 when I went rogue and got my first American Express card. Crossing the line was a big deal. After seeing the cache of American Express, telling me “membership has its privileges,” or the voice of Bugs Bunny telling me not to “leave home without it,” I wanted one. The basic green card would help me reduce revolving charges because it had to be settled every month.
Only One Basis Point, But Time for Small Credit Card Issuers to Worry

May 22, 2024 | paymentsjournal.com | Brian Riley

The first quarter often brings relief to credit card issuers, as holiday shopping is over, New Year resolutions bring promises of financial soundness, and tax refunds start to come in. However, issuers not ranked in the top 100 should begin to shudder. The increase in charge-offs for all commercial banks issuing credit cards, which rose 17 basis points in Q1 2024, from 4.23% to 4.40%, is a warning of real problems to come.
Rewards: On the CFPB Watchlist, but Keep an Eye on the Consumer Complaints!

May 9, 2024 | paymentsjournal.com | Brian Riley

My journey with American Express began in 1998, a year that pales in comparison to my father-in-law’s card, a relic from 1959, the era of “Mad Men.” As a budding banker at Citi and Chase, I often discussed his long-standing relationship with Amex. He was an early adopter of credit cards, launching his CPA career with Peat Marwick Mitchell. To him, the American Express Green Card was the way to go. No revolving debt and stay disciplined because you cannot run up a balance.