Credit Cards: The Next Big Financial Explosion
Tweet
Share
E-mail
Get Alerts C Hot Sheet
Join SI Premium – FREE
From 24/7WallStreet:
A number of bank analysts believe that the reason industry earnings will not improve next year is a sharp spike up in credit card defaults.
In many cases, financial companies are faced with more than the direct losses of customers who walk away from their obligations. These debts have been put into pools not unlike those which were created for mortgages. Those pools could become toxic quickly if the underlying debt begins to sour at an increasingly rapid pace.
Read More At 24/7WallStreet.com >>>
Stocks: Citi (NYSE: C), American Express Company (NYSE: AXP), Capital One Financial Corp. (NYSE: COF), Bank of America Corporation (NYSE: BAC), Wells Fargo (NYSE: WFC).
A number of bank analysts believe that the reason industry earnings will not improve next year is a sharp spike up in credit card defaults.
In many cases, financial companies are faced with more than the direct losses of customers who walk away from their obligations. These debts have been put into pools not unlike those which were created for mortgages. Those pools could become toxic quickly if the underlying debt begins to sour at an increasingly rapid pace.
Read More At 24/7WallStreet.com >>>
Stocks: Citi (NYSE: C), American Express Company (NYSE: AXP), Capital One Financial Corp. (NYSE: COF), Bank of America Corporation (NYSE: BAC), Wells Fargo (NYSE: WFC).
You May Also Be Interested In
Create E-mail Alert Related Categories
Insiders' BlogRelated Entities
CitiSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
