Consumer spending has remained strong despite elevated inflation, surprising many economists. However, there are concerns about credit card delinquencies and lenders’ net charge-offs, which could indicate whether consumers can keep up with their payments. The Philadelphia Fed reported that balanced-based credit card delinquencies in Q1...
The largest U.S. banks are reportedly bracing themselves for a surge in bad debt write-offs, the highest since the early days of the pandemic. JPMorgan Chase & Co., Citigroup, Wells Fargo and Bank of America are expected to report a combined $5.3 billion in net...
October 27, 2024
Consumers spent with confidence last month as retail sales climbed. And as Seeking Alpha noted in its “Credit Pulse” report Sunday (Oct. 27), much of that spending happened with credit cards, with loans at seven major card issuers increasing slightly — 0.4% month over month — to $40 billion. Delinquency rates climbed as well, though […]
July 29, 2024
Consumer spending has remained strong despite elevated inflation, surprising many economists. However, there are concerns about credit card delinquencies and lenders’ net charge-offs, which could indicate whether consumers can keep...
October 11, 2023
The largest U.S. banks are reportedly bracing themselves for a surge in bad debt write-offs, the highest since the early days of the pandemic. JPMorgan Chase & Co., Citigroup, Wells...
