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    Used vehicle pricing barometer jumps to highest level since 2023 amid auto tariffs

    Cox Automotive’s Manheim Used Vehicle Value Index — which tracks prices of used vehicles sold at its U.S. wholesale auctions — increased 4.9% from a year ago.
    It marked a 2.7% increased from March and a significant increase compared to a typical month-to-month index move of 0.2%, according to the auto data and logistics firm.
    While the tariffs of 25% on new imported vehicles and many parts do not directly impact used car sales, changes in new vehicle prices, production and demand affect the used car market.

    A Ford mustang is seen at a used car dealership in Montebello, California on May 5, 2025.
    Frederic J. Brown | AFP | Getty Images

    DETROIT — A closely watched barometer for used vehicle pricing jumped last month to its highest level since October 2023 as consumers rushed purchases amid fears of price hikes due to auto tariffs.
    Cox Automotive’s Manheim Used Vehicle Value Index — which tracks prices of used vehicles sold at its U.S. wholesale auctions — increased 4.9% last month compared with a year earlier to a level of 208.2.

    It also marked a 2.7% increase from March. That’s a significant rise compared with a historically typical month-to-month index move of 0.2%, according to the auto data and logistics firm.
    “The ‘spring bounce’ normally ends the second week of April, but this year, wholesale appreciation trends continued for the entire month and were much stronger than we typically observe,” said Jeremy Robb, Cox Automotive senior director of economic and industry insights. “We expected to see strong price appreciation in response to the tariffs, and that’s exactly what came.”

    While the tariffs of 25% on new imported vehicles and many parts do not directly impact used car sales, changes in new vehicle prices, production and demand affect the used car market, which is how the majority of Americans purchase a vehicle.
    Retail prices for consumers traditionally follow changes in wholesale prices, but they have not fallen as quickly as wholesale prices in recent years.
    Cox reports retail used vehicle sales in April were down 1.7% compared with March but higher year over year by 13%. Over the last four weeks, the average retail listing price for a used vehicle increased by 2% to more than $25,000, Cox said. That compares with a new vehicle at nearly $48,000.

    The Manheim index remains off the record highs it hit during the Covid pandemic but is still relatively high compared with historic levels before the onset of the global health crisis in 2020.
    Cox previously said it was seeing used vehicle prices continue to stabilize after swinging wildly for several years before starting to calm down in 2024.

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    Here’s what changed in the new Fed statement

    This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in March.
    Text removed from the March statement is in red with a horizontal line through the middle.

    Text appearing for the first time in the new statement is in red and underlined.
    Black text appears in both statements.

    Arrows pointing outwards More

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    Netflix unveils revamped homepage and app with OpenAI-powered search tool

    Netflix is rolling out a revamped homepage and an updated mobile experience that will include an AI search tool as well as a TikTok-style vertical video feed.
    The new features will include more visible shortcuts to finding content and real-time recommendations that respond to viewers’ moods and interests.
    Netflix has instituted a series of changes to its business — launching a cheaper, ad-supported option and a crackdown on password sharing — following a brief period of customer growth stagnation.

    Netflix launching an innovative new TV experience featuring enhanced design, responsive recommendations and a new way to search.
    Courtesy: Netflix

    Netflix unveiled a redesigned homepage experience on Wednesday with the aim of making searching for shows and movies easier for its members.
    The user experience revamp goes beyond the TV screen. Netflix is also making changes to include a vertical video feed that the company says better suits the mobile watching and sharing experience. In addition, executives announced the company is exploring ways to integrate generative artificial intelligence into the experience in partnership with OpenAI.

    The new features, such as more visible shortcuts to finding content, will include real-time recommendations that respond to viewers’ “moods and interests in the moment,” Netflix said in a news release.
    The updates will be made available globally to members in the coming months.
    The overhaul of Netflix’s user experience, which is intended to allow members to discover more content in Netflix’s massive library of series and films, comes as competition among streamers remains stiff. Competing platforms like Warner Bros. Discovery’s Max and Disney’s portfolio of streamers are looking to increase revenue and profitability by not only nabbing new customers, but retaining them.
    Netflix has instituted a series of changes to its business — launching a cheaper, ad-supported option and a crackdown on password sharing — following a brief period of customer growth stagnation in 2022.
    Since then Netflix member additions have been on the rise. Netflix reported 300 million paid memberships in January, up a record 19 million from the previous quarter.

    While the streamer stopped reporting quarterly subscriber numbers beginning in the first fiscal quarter of 2025, revenue grew 13% during the period. 

    Netflix launching an innovative new TV experience featuring enhanced design, responsive recommendations and a new way to search.
    Courtesy: Netflix

    Netflix has made various updates to the consumer experience in recent years, but not a major overhaul such as this in quite some time.
    The TikTok-style vertical video feed will allow users to save or share clips with friends.
    “We know that swiping through a vertical feed on social media apps is an easy way to browse video content, and we also know that our members love to browse our clips and trailers to find their next obsession,” Netflix Chief Product Officer Eunice Kim said during a presentation for media this week.
    The AI enhancements will allow members to use specific phrases when searching for what they want to watch, Chief Technology Officer Elizabeth Stone said during the presentation. Those features will be powered by OpenAI, although the models will be trained by a team at Netflix in order to tailor to member needs, Netflix said Wednesday.
    With the update, Netflix will put all the information members need to make an informed choice about what to watch “front and center,” Kim said during the call with reporters.
    “Our members do a lot of eye gymnastics when they’re scrolling down and right and going back and forth between rows and title details on the homepage,” Kim said. More

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    Why U.S. air traffic control is stretched so thin — and the fight to fix it

    Air traffic controllers lost radio and radar contact with planes heading to Newark Liberty International Airport due to an equipment outage on April 28.
    The outage exposed years of underinvestment and staffing shortages in air traffic control, despite increased demand for air travel.
    The Trump administration laid out new plans to improve staffing shortfalls and decades-old technology.

    An airport control tower is seen at Newark Liberty International Airport, on May 6, 2025 in Newark, New Jersey.
    Andres Kudacki | Getty Images

    Air traffic controllers have been under strain for years, but a 90-second equipment failure last week exposed how decades of staffing shortages, underinvestment and patchwork solutions for those who guide planes through some of the world’s most congested airspace are taking their toll.
    The outage also sparked hundreds of flight delays, disrupting travel for thousands of travelers for days — again.

    What happened?

    On the afternoon of April 28, air traffic controllers at a facility in Philadelphia who are responsible for guiding planes to and from Newark Liberty International Airport in New Jersey faced dark radar screens and were unable to talk to planes for more than a minute.
    The outage lasted about 30 seconds. It took another 30 to 60 seconds for aircraft to reappear on radarscopes, according to the Federal Aviation Administration.

    United Airlines’ Captain Deon Byrne check her phone as she arrives at Terminal C in Newark Liberty International Airport, on May 6, 2025 in Newark, New Jersey.
    Andres Kudacki | Getty Images

    Pilots for major U.S. airlines say they are specially trained to handle such outages.
    But an outage of even a few seconds “is an eternity for air traffic controllers,” said Jeff Guzzetti, a retired air safety investigator for the U.S. National Transportation Safety Board and the FAA.
    The incident, which was not the first time equipment outages hit the facility, was so jarring some have “taken time off to recover from the stress of multiple recent outages,” the FAA said.

    Read more CNBC airline news

    More than 1,500 Newark flights were delayed last week, according to FlightAware. United Airlines, which runs a hub out of Newark, said it was cutting 35 flights a day from its schedule to ease strain on its operation and customers.
    A Newark runway has also been closed for construction, adding to disruptions.

    New steps

    On Wednesday, the FAA said it would beef up staffing at the Philadelphia facility and work to fix communication lines that feed data to controllers there for Newark flights. It said it plans to install a temporary backup system there to “provide redundancy during the switch to a more reliable fiberoptic network.”
    Transportation Secretary Sean Duffy is set to announce a major upgrade plan for the U.S. air traffic control system on Thursday, which could require Congress to approve billions in additional funding.
    “We have computers, and I kid you not, today in 2025, that are based on Windows 95 and floppy disks,” Nick Daniels, president of the National Air Traffic Controllers Association, said in an interview in March.
    The FAA last year said that the average age of its towers is 40 and that most radar systems are approaching 40 years old. “Aging facilities add risk to the system, including risk of service disruptions,” it said.

    People wait in line for a delayed flight at Newark International Airport on May 5, 2025 in Newark, New Jersey.
    Spencer Platt | Getty Images

    Accident draws urgency

    The April 28 incident and previous outages didn’t cause any accidents but the failures raised more worries about an outmoded system and chronic shortages of air traffic controllers, particularly in the busy airspace around New York City.
    U.S. air traffic controllers handle about 45,000 flights a day overall, according to the FAA.
    The urgency to fix lingering problems reached a new level after a Black Hawk Army helicopter collided with an American Airlines regional jet on Jan. 29, killing all 67 people on board the aircraft. It was the deadliest air crash in the United States since 2001.
    “It took a fatal midair airline accident to occur to get everybody’s attention,” Guzzetti said.

    Why is Newark such a problem?

    Newark is already dealing with space constraints to begin with.
    It handled around 414,000 flights last year, 11% fewer than John F. Kennedy International Airport, in Queens, New York, according to data from their operator, the Port Authority of New York and New Jersey. But Newark is about half JFK’s size.
    Technology glitches and staffing shortfalls have been especially hard on Newark in recent days. Last year, the FAA moved controllers who handle Newark from a facility on Long Island, New York — where planes are also sequenced to and from LaGuardia Airport and JFK in Queens — to a remote station in Philadelphia. The move was meant to ease congestion and strain on the Long Island facility, but there are still issues.

    An inside view of Newark Airport as travelers are facing eight straight days of massive delays, United Airlines canceling routes and staffing shortages in Newark, New Jersey, United States, on May 06, 202
    Mostafa Bassim | Anadolu | Getty Images

    Air traffic staffing shortages have vexed airline executives who are eager to capitalize on strong demand but are constrained and face high costs due to a lack of controllers.
    “Keep in mind, this particular air traffic control facility has been chronically understaffed for years and without these controllers, it’s now clear — and the FAA tells us — that Newark airport cannot handle the number of planes that are scheduled to operate there in the weeks and months ahead,” United CEO Scott Kirby told customers on Friday, announcing schedule cuts.
    Before April 26, four flights a day were canceled at Newark in April, on average, but that rose to 39 a day through Monday, according to aviation analytics firm Cirium. About 80% of flights were on schedule in April before that date, but dropped to 63%, “far below industry norms,” Cirium said.

    Slowing it down

    U.S. Transportation Secretary Sean Duffy speaks to the media outside the White House in Washington, D.C., U.S., May 6, 2025.
    Kent Nishimura | Reuters

    Duffy has said air travel is safe. After a visit to the Philadelphia facility last week, he said that the FAA will slow, if not halt, arrivals altogether if there is a shortage of air traffic controllers.
    United’s CEO, Kirby, told employees in a memo Wednesday that flying to and from Newark is safe. He said the carrier’s pilots have thousands of hours of experience and training on procedures to “follow to re-establish communication if controllers lose radio contact to navigate the airplane safely to its destination.”
    Airlines have sought capacity limits to help the congestion, and the last disruption was no exception.
    “United has been urging the US government for *years* to use its authority to effectively limit the number of flights to what the airport can realistically handle,” Kirby said in a note to employees on Friday. “Past failure to make those changes had led to the circumstances that United and, most importantly, our customers now face.”  
    In 2016, the FAA eased flight restrictions at the airport and Kirby said the FAA should return to prior rules.
    “It’s long past time to treat EWR like the crown jewel that it is,” he told employees in the Wednesday, using the airport’s code. “We’ll continue to work closely with the FAA and [Transportation Department] to get EWR fixed once and for all and deliver the country the first-class air traffic system it deserves.”

    Adding air traffic controllers

    The U.S. has around 10,800 air traffic controllers, well short of its full staffing goal by 3,000, according to the controllers’ union, the NATCA.
    “Over the last eight years, we’ve had 146,000 applicants and we’ve hired 7,905 of those,” Chris Wilbanks, vice president of mission support at the FAA who is in charge of controller hiring and training, said in interview in March. “Less than 10% of the people that apply for the job actually make it to the [Oklahoma training] academy and then graduate to go out into the field.”

    In the previous fiscal year, the FAA’s goal was to hire 1,800 controllers.
    “We’ll lose 35% of those at the academy. We’ll lose another 20% once they get in the field, on the job training. So we don’t net 1,800 controllers,” Wilbanks said.
    The grueling job requires air traffic controllers to retire at age 56, and applicants to the academy can be no older than 30. Many are forced to work six-day workweeks because of the shortages.
    Duffy has recently moved to increase financial incentives, like higher pay for air traffic controllers. Starting pay is around $45,000, the union’s Daniels said, though the median pay for a U.S. air traffic controller is $144,580 a year, according to the U.S. Labor Department. More

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    America and China prepare for an Alpine trade clash

    SWITZERLAND ALWAYS imagined it would be where the fate of the global trading system was decided. It was in Geneva in 1947 that 23 countries signed the General Agreement on Tariffs and Trade, which governed negotiations over the next four decades. Geneva is also home to the World Trade Organisation, founded with high hopes in 1995. Switzerland’s position has been jeopardised by President Donald Trump’s disdain for the WTO and his love of tariffs. But Geneva once again finds itself hosting high-stakes trade talks between the world’s biggest economies. More

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    Disney announces an Abu Dhabi theme park and resort

    The Walt Disney company announced Wednesday that it has reached an agreement with immersive destination and experiences company Miral to bring a park and resort to Yas Island in the United Arab Emirates.
    This will be Disney’s seventh theme park resort and it will be fully developed and built by Miral. Disney’s imagineers will lead creative design and operational oversight on the project.
    The entertainment giant will not be investing capital in the project, but will reap the benefits of royalties.

    A new Disney theme park is coming to Abu Dhabi.
    The Walt Disney company announced Wednesday that it has reached an agreement with immersive destination and experiences company Miral to bring a park and resort to Yas Island in the United Arab Emirates.

    This will be Disney’s seventh theme park resort and it will be fully developed and built by Miral. Disney’s imagineers will lead creative design and operational oversight on the project. The entertainment giant will not be investing capital in the project, but will reap the benefits of royalties.
    The development in Abu Dhabi is not part of the $60 billion that Disney has pledged to invest in its theme parks over the next decade.
    “This is a thrilling moment for our company as we announce plans to build an exciting Disney theme park resort in Abu Dhabi, whose culture is rich with an appreciation of the arts and creativity,” said Disney CEO Bob Iger, in a statement. “As our seventh theme park destination, it will rise from this land in spectacular fashion, blending contemporary architecture with cutting edge technology to offer guests deeply immersive entertainment experiences in unique and modern ways.”
    Iger, in an interview with CNBC’s David Faber on Wednesday, said imagineers have already begun designing the park. He declined to specify when the company expects the park to open.
    “We’re not pinning down a date yet,” he said. “It typically takes us between 18 months and two years to design and fully develop and approximately five years to build but we’re not making any commitments right now.”

    The announcement came after Disney reported a top- and bottom-line beat for its fiscal second quarter, with its experiences business — including parks, cruises and resorts as well as consumer products — reporting 6% year-over-year revenue growth.
    The segment represented 37% of the company’s overall revenue in fiscal 2024 and nearly 60% of its operating income.
    “Experiences is obviously a critical business for Disney and also an important growth platform,” Iger said on Disney’s second-quarter earnings conference call. “Despite questions around any macroeconomic uncertainty or the impact of competition, I’m encouraged by the strength and resilience of our business as evidenced in these earnings and in the second-half bookings at Walt Disney World.”

    UAE foothold

    Disney has slowly been entering the United Arab Emirates in recent years, adding retail locations and touring entertainment shows like Broadway’s “The Lion King” and “Disney on Ice.”
    Iger told CNBC that the company first started eyeing the region as a potential new resort location in 2017 or 2018, but Covid and a CEO change delayed expansion into the UAE.
    The company noted that around one-third of the world’s population lives within a four-hour flight of the UAE and that the region has an addressable tourism market of around 500 million visitors.

    Disney CEO Bob Iger (R) and Josh D’Amaro, Chairman of Disney Experiences, speaking on CNBC’s Squawkbox on May 7th, 2025.

    “This groundbreaking resort destination represents a new frontier in theme park development,” said Josh D’Amaro, chairman of Disney experiences. “Our resort in Abu Dhabi will be the most advanced and interactive destination in our portfolio. The location of our park is incredibly unique – anchored by a beautiful waterfront – which will allow us to tell our stories in completely new ways. This project will reach guests in a whole new part of the world, welcoming more families to experience Disney than ever before.”
    Yas Island is a hub of entertainment and retail experiences. It is already home to Ferrari World Abu Dhabi, Yas Waterworld, SeaWorld Abu Dhabi and Warner Bros. World Abu Dhabi as well as the Formula 1 Yas Marina Circuit. The area also hosts Abu Dhabi’s largest mall and an award-winning golf course.
    Upon completion, the new Disney park will have themed accommodations and unique dining and retail experiences that integrate the storytelling heritage of Disney and the futuristic and cultural essence of Abu Dhabi.
    “It’ll be much larger than anything that’s currently here,” D’Amaro teased on CNBC. More

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    Disney reports surprise uptick in streaming subscribers, beats on top and bottom lines

    Disney posted fiscal second-quarter earnings Wednesday that beat on the top and bottom lines.
    Results were boosted by better-than-expected subscriber growth for its Disney+ streaming platform. 
    The company upped some of its fiscal 2025 guidance and posted revenue growth in all three of its business segments.

    Disney posted fiscal second-quarter earnings Wednesday that beat on the top and bottom lines, boosted by better-than-expected subscriber growth for its Disney+ streaming platform. 
    The company upped some of its fiscal 2025 guidance and posted revenue growth in all three of its business segments. It separately announced a new theme park and resort in Abu Dhabi.

    Shares of Disney gained about 7% in premarket trading Wednesday.
    Disney, which had previously said it expected Disney+ subscribers to decline during the quarter, reported a 1.4 million increase in subscriptions to its flagship service, bringing its global base to 126 million. Wall Street had expected Disney to report 123.35 million Disney+ subscribers, according to StreetAccount. 
    Disney expects a modest rise in these subscribers in its current quarter.
    Revenue for its direct-to-consumer business rose to $6.12 billion, up 8% compared with the same period a year prior. Higher prices and increased subscriber numbers led to the growth, the company said.
    Here is what Disney reported for the period ended March 29 compared with what Wall Street expected, according to LSEG:

    Earnings per share: $1.45 adjusted vs. $1.20 expected
    Revenue: $23.62 billion vs. $23.14 billion

    Disney now expects full-year adjusted EPS of $5.75, an increase of 16% compared with fiscal 2024. Previously, the company said it expected high-single-digit adjusted EPS growth.
    Disney’s net income for the most recent quarter increased to $3.28 billion, or $1.81 per share, up from a loss of $20 million, or a loss of 1 cent per share, during the same quarter last year.
    Adjusting for one-time items, including the resolution of a tax matter, among other items, Disney reported earnings per share of $1.45. 
    Disney’s overall revenue was up 7% year over year to $23.62 billion.
    Revenue for the entertainment segment – which includes the traditional TV networks, direct-to-consumer streaming and films – increased 9% year over year to $10.68 billion after a strong carryover from winter film titles.
    While “Snow White” and “Captain America: Brave New World” underperformed, ticket sales from 2024 releases “Mufasa: The Lion King” and “Moana 2” buoyed content sales and licensing. 
    Linear continued to drag on overall results, with revenue falling 13% to $2.42 billion.
    Revenue for Disney’s sports segment, made up primarily of ESPN, rose 5% to $4.53 billion on higher advertising revenue. The company aired three additional College Football Playoff games and one extra National Football League game during the quarter, leading to higher ad rates and viewership.
    For fiscal 2025, Disney said Wednesday it expects its sports segment’s operating income growth will be up 18% year over year, higher than the 13% growth it had previously forecast.
    Over at its experiences business, which includes parks, cruises and resorts as well as consumer products, revenue rose 6% during the quarter to $8.89 billion.
    Its domestic theme parks saw revenue rise 9% to $6.5 billion, while international park revenues dipped 5% to $1.44 billion.
    The company attributed revenue gains to higher guest spend at its domestic parks and higher volumes on its cruise ships following the launch of the Disney Treasure.
    Its consumer products division saw revenue up 4% to $949 million due to higher licensing revenue from the newly released video game Marvel Rivals.
    This story is developing. Please check back for updates. More

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    Banks are keeping credit card rates high even after the CFPB rule they blamed for high APRs was killed

    Banks quickly raised interest rates to record levels and added new monthly fees on credit cards last year when a Consumer Financial Protection Bureau rule threatened a key revenue source for the industry.
    Now they’re far more reluctant to reverse those steps, even after bank trade groups succeeded in killing the CFPB rule in federal court last month.
    Synchrony and Bread Financial, two of the biggest players in the business of issuing branded credit cards for the likes of Amazon, Lowe’s and Wayfair, are keeping the higher rates in place, executives said in recent conference calls.

    The New York Stock Exchange is seen during morning trading on July 31, 2024 in New York City. 
    Michael M. Santiago | Getty Images News | Getty Images

    Last year, banks quickly raised interest rates to record levels and added new monthly fees on credit cards when a Consumer Financial Protection Bureau rule threatened a key revenue source for the industry.
    Now, they’re far more reluctant to reverse those steps, even after bank trade groups succeeded in killing the CFPB rule in federal court last month.

    Synchrony and Bread Financial, two of the biggest players in the business of issuing branded credit cards for the likes of Amazon, Lowe’s and Wayfair, are keeping the higher rates in place, executives said in recent conference calls.
    “We feel pretty comfortable that the rule has been vacated,” Synchrony CEO Brian Doubles said on April 22. “With that said, we don’t currently have plans to roll anything back in terms of the changes that we made.”
    His counterpart at Bread, CEO Ralph Andretta, echoed that sentiment, “At this point, we’re not intending to roll back those changes, and we’ve talked to the partners about that.”
    The CEOs celebrated the end of a proposed CFPB regulation that was meant to limit what Americans would pay in credit card late fees, an effort that the industry called a misguided and unlawful example of regulatory overreach. Under previous Director Rohit Chopra, the CFPB estimated that its rule would save families $10 billion annually. Instead, it inadvertently saddled borrowers with higher rates and fees for receiving paper statements as credit card companies sought to offset the expected revenue hit.
    Retail cards hit a record high average interest rate of 30.5% last year, according to a Bankrate survey, and rates have stayed close to those levels this year.

    “The companies have made a windfall,” said David Silberman, a veteran banking attorney who lectures at Yale Law School. “They didn’t think they needed this revenue before except for [the CFPB rule], and they’re now keeping it, which is coming directly out of the consumer’s pocket.”
    Synchrony and Bread both easily topped expectations for first-quarter profit, and analysts covering the companies have raised estimates for what they will earn this year, despite concerns about a looming U.S. economic slowdown.

    Retailer lifeline

    While store cards occupy a relatively small corner of the overall credit card universe, Americans who are struggling financially are more likely to rely on them, and they are a crucial profit generator for popular American retailers.
    There were more than 160 million open retail card accounts last year, the CFPB said in a report from December that highlighted risks to users of the high-interest cards.
    More than half of the 100 biggest U.S. retailers offer store cards, and brands including Nordstrom and Macy’s relied on them to generate roughly 8% of gross profits in recent years, the CFPB said.
    Banks may be taking advantage of the fact that some users of retail cards don’t have the credit profiles to qualify for general-purpose cards from JPMorgan Chase or American Express, for example, said senior Bankrate analyst Ted Rossman.

    Nearly half of all retail card applications are submitted by people with subprime or no credit scores, and the card companies behind them approve applications at a higher rate than for general-purpose cards, the CFPB said.
    “Companies like Bread or Synchrony, they rely a lot more on people who carry balances or who pay late fees,” Rossman said.
    Rates on retail cards have fallen by less than 1% on average since hitting their 2024 peak, and they are typically about 10 percentage points higher than the rates for general-purpose cards, Rossman said.
    That means it’s unlikely that other large players in the retail card sector, including Citigroup and Barclays, have rolled back their rate increases in the wake of the CFPB rule’s demise. The most recent published APR on the Macy’s card, issued by Citigroup, is 33.49%, for instance.
    Citigroup and Barclays representatives declined to comment for this article.

    Debt spirals

    Synchrony’s CEO gave some clues as to why banks aren’t eager to roll back the hikes: borrowers either didn’t seem to notice the higher rates, or didn’t feel like they had a choice.
    Retail cards are typically advertised online or at the checkout of brick-and-mortar retailers, and often lure users with promotional discounts or rewards points.
    “We didn’t see a big reduction in accounts or spend related to the actions” they took last year, Doubles told analysts. “We did a lot of test and control around that.”
    Synchrony will discuss future possible changes to its card program with its brand partners, according to a spokeswoman for the Stamford, Connecticut-based bank. That could include bumping up promotional offers at specific retailers, Doubles said during the April conference call.

    Brian Doubles, Synchrony President
    Synchrony Financial

    “Our goal remains to provide access to financial solutions that provide flexibility, utility, and meaningful value to the diverse range of customers, partners, providers, and small and midsized businesses we serve,” Synchrony said in a statement.
    A Bread spokesperson declined to comment for this article.
    Alaina Fingal, a New Orleans-based financial coach, said she often advises people who’ve been trapped in a debt spiral from using retail credit cards. Some have to take on side gigs, like driving for Uber Eats, to work down the balances, she said.
    “They do not understand the terms, and there are a lot of promotional offers that may have deferred interest clauses that are in there,” Fingal said. “It’s extremely predatory.” More