Credit Card Defaults Soar To 14-Year High As Bidenomics Continues To Crush Americans
The Financial Times reported Monday that Americans are defaulting on their credit card loans to levels not seen since 2010. Credit card lenders canceled $46 billion in seriously delinquent loan balances in the first nine months of 2024. According to In a Financial Times report citing industry statistics from BankRegData. This is a 50% increase […]
American Express profit rises, but it sets aside more money for possible defaults
by Michelle Chapman American Express posted higher profits and sales in the second quarter, as well as increased credit card usage, but its stock fell before the market opened as it secured more cash for possible payment defaults. Analysts surveyed by Zacks Investment Research said the card issuers made $2.17 billion in profits, or $2.89 […]
