Credit Card Defaults Rose in April

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 Defaults Reach Record Highs in April“