They rose to record highs. And banks like Citigroup, Wells Fargo, JPMorgan Chase and Discover Financial Services are trying to figure out what to do. They’re raising rates, lowering limits, closing accounts and hiring psychologists to teach debt collectors how to persuade card holders to pay down their balance. CNBC.com has the article: “Credit Card …
Category Archives: Banking Industry
Banks are Hurt by Credit Cards
The New York Times has this story: “Rising Credit Card Losses Are Next Challenge for Banks“. Eric Dash and Andrew Martin do a good job of explaining the extent of trouble banks are having and are going to have with credit cards. “Even the government’s grim projections may vastly understate the size of the credit …
FRB’s Bank Card and Mortgage Delinquencies Map
This is a cool tool! The Federal Reserve Bank of New York offers dynamic maps of bank card and mortgage delinquencies in the United States. It’s one of the coolest tools I’ve seen in a while. The Credit Condition Map is actually fun to play with. The irony is that while you play with it, …
A Return to Traditional Banking Business
I wonder, though. Isn’t the advice and lending behavior of banks part of what got us into this? It sounds like more of the same.
