Banks hit credit card users with higher rates in response to regulation that may never arrive [CNBC]
Bread Financial Holdings, Inc. (BFH)
Company Research
Source: CNBC
Synchrony and Bread Financial have said that the moves were necessary after the Consumer Financial Protection Bureau in March announced a rule slashing what the industry can charge in late fees. Other banks, including Barclays and Citigroup, also boosted the interest rates on their store cards. Banks that issue credit cards used by millions of consumers raised interest rates and introduced new fees over the past year in response to an impending regulation that most experts now believe will never take effect. Synchrony and Bread Financial, which specialize in issuing branded cards for companies including Verizon and JCPenney, have said that the moves were necessary after the Consumer Financial Protection Bureau announced a rule slashing what the industry can charge in late fees. “They're the two banks that have been most vocal about it, because they were going to be the most impacted by it,” said Sanjay Sakhrani , a KBW analyst who covers the card industry. “The consensus now,
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BFH
News
- Bread Financial Holdings, Inc. (NYSE: BFH) was upgraded by analysts at Morgan Stanley from an "underweight" rating to an "overweight" rating. They now have a $76.00 price target on the stock, up previously from $35.00.MarketBeat
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- Bread Financial Provides Performance Update for November 2024GlobeNewswire
- Bread Financial Holdings, Inc. (NYSE: BFH) had its price target raised by analysts at Keefe, Bruyette & Woods from $67.00 to $88.00. They now have an "outperform" rating on the stock.MarketBeat
BFH
Earnings
- 10/24/24 - Miss
BFH
Sec Filings
- 12/11/24 - Form 8-K
- 12/2/24 - Form 8-K
- 11/14/24 - Form SC
- BFH's page on the SEC website