CIBC Buys Citigroup’s Canadian Credit Card Business for $2.1B
Credit Card News / Credit Cards / Personal Finance / Personal Finance News

CIBC Buys Citigroup’s Canadian Credit Card Business for $2.1B

Things are heating up in the credit cards industry as CIBC announced that they’ve bought Citigroup’s Canadian credit card business for $2.1B. This deal will make CIBC the largest dual credit card provider (Visa and Mastercard) in the country and increases their outstanding credit card balance to over $14B. It includes Citi’s co-branded cards such … Continue reading »

New Credit Card Regulations Announced
Credit Card News / Credit Cards

New Credit Card Regulations Announced

The Toronto Star reported that new credit-card regulations will end up costing Canada’s banks “hundreds of millions of dollars” and could leave consumers feeling even more confused about their bills, the head of the Canadian Bankers Association says. Nancy Hughes Anthony also warned Wednesday that implementing such complex regulations within a “compressed timeframe” could lead … Continue reading »