Credit Card Issuers Report Rise in Uncollectable Debt
Four of the top six credit card issuers reported an increase in the number of debts they they wrote off as uncollectable in August. But there were a few positive signs as well.
Four of the top six credit card issuers reported an increase in the number of debts they they wrote off as uncollectable in August. But there were a few positive signs as well.
Moody's is reviewing 10 large regional banks for possible downgrades because it thinks financial reform means total government support is now less likely. That's setting off a debate about whether those banks will actually take a hit to profitability.
Capital One said the annualized net charge-off rate -- debts the company believes it will never collect -- for U.S. credit cards fell to 9.48% in May from 9.68% in April.











