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Credit Card Receivables

A credit card receivable is money owed to a bank or issuer on the outstanding balance in a credit card account. Because the borrower is contractually obligated to pay the balance, the creditor expects this amount to be repaid. If a borrower does not repay the balance, it is often charged off as a loss. Since credit card usage is so widespread, and account balances can soar quite high, credit card receivables form the backbone of many financial services functions, such as asset-backed securities, debt collection, and debt buying.

For more information on credit cards and the role they play in the ARM industry, please see our special content section, The Credit Card Issue.

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TD Bank to Buy Nordstrom $2.2 Billion U.S. Credit Card Portfolio

Toronto-Dominion Bank (NYSE:TD) on Tuesday announced that it would acquire Nordstrom Inc.’s. (NYSE:JWN), U.S VISA® and private-label consumer credit card portfolio. The transaction is part of a long-term deal to become the retailer’s exclusive U.S. credit card issuer. The retailer’s existing portfolio totaled about $2.2 billion in receivables. Terms of the purchase were not disclosed. […]

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CFPB Seeks Input on Credit Card Market, Including Collection and Debt Sales Practices

The CFPB announced Tuesday it is seeking public comment on how the credit card market is functioning and the impact of the Bureau’s credit card protections on consumers and issuers. This inquiry will focus on issues including credit card terms, the use of consumer disclosures, credit card debt collection practices, and rewards programs.