The bank's Costco card portfolio boosted profits (again), as did internal growth from store-branded cards from Home Depot and Best Buy. Citi’s card business is avoiding — for now — the pain in the retail sector.
This report covers future uncertainties for consumers, what this means for banks, and explores specific opportunities to prepare for and shape the future. Read this report today to gain insights into tomorrow’s consumers.
Amer Sajed, a 56-year-old Pakistan-born immigrant to the U.S., will step down from his role leading the bank’s credit card business in July after being spurred into activism by President Trump's stances on social and other issues.
Lost in the battle between banks and retailers — which is being fought with renewed vigor in the early days of the Trump administration — is any consideration of how caps on interchange fees have affected consumer spending patterns.