NerdWallet Saw Abnormal Behavior from Credit Card Companies -- Market Talk

Dow Jones04-26

1137 ET - Credit card companies are usually happy to take as many customers as they can get who are of adequate credit quality because it generates more revenue, NerdWallet CEO Tim Chen says in an interview. But for the last couple of quarters, Chen says they've been pretty constrained following the collapse of Silicon Valley Bank last year in terms of how many units they want to take on. "I think it's a sign of... trying to rebuild some balance sheets," the chief executive of the financial education company says. Chen adds there's also a bit of uncertainty as to what kind of regulations are coming in terms of bank capital ratios. (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

April 26, 2024 11:38 ET (15:38 GMT)

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