Latest Credit card debt News

AmEx sees drop in revenue as pandemic slows travel, dining

Apr. 23, 2021 13:00 PM EDT

NEW YORK (AP) — American Express Co. saw its first-quarter profits rise sharply, but the company saw a significant drop in revenue as fewer customers used their credit cards and those with balances paid down debt. The New York-based company said it earned a profit of...

Startup cards can help build credit even in tough times

Apr. 10, 2021 07:54 AM EDT

While major credit card issuers tightened lending standards and slashed credit limits amid COVID-19, some financial technology startups took a different tack. In 2020, young companies like Grow Credit, TomoCredit and Chime launched or expanded credit cards that are...

Man who embezzled $36M from L.A. firm sentenced to prison

Apr. 08, 2021 19:36 PM EDT

LOS ANGELES (AP) — A man who embezzled more than $36 million from a Los Angeles company was sentenced Thursday to 10 1/2 years in federal prison and ordered to repay the money. Paul McDaniel, 44, used most of the funds he embezzled to pay off $23 million in credit card...

Missouri musician pleads guilty to creating fake charity

Mar. 19, 2021 09:38 AM EDT

SPRINGFIELD, Mo. (AP) — A Branson performer has pleaded guilty to a count of wire fraud, admitting in court that he created a fake charity for foster children to bilk his audience members of thousands of dollars, federal prosecutors for Missouri said. James Patrick...

Millennial Money: Conquer phone call fears and save money

Mar. 18, 2021 13:40 PM EDT

Sean McAuliffe’s business, International Key Supply , suffered financially when the pandemic began. So he set out to cut operating costs for the New York-based distribution company. He canceled a few services, and for more important ones, he contacted the providers to request deferred or...

Former state Sen. Sam McCann pleads not guilty to wire fraud

Feb. 24, 2021 11:11 AM EST

SPRINGFIELD, Ill. (AP) — Former state senator and gubernatorial candidate Sam McCann has pleaded not guilty to federal charges alleging he illegally spent more than $200,000 in campaign funds on debts and personal expenses and to pay himself. The 51-year-old Plainview...

Suze Orman on women, money and surviving the pandemic

Feb. 21, 2021 09:11 AM EST

Women are bearing a tremendous financial burden during the pandemic, primarily because of leaving the workforce, by choice or by force. The Associated Press spoke with Suze Orman, personal finance expert and author of the podcast Women & Money, about how women can...