Delinquencies on home equity loans, bank cards hit record highs in 2nd quarterOctober 1st, 2009 Loan delinquencies hit record highs in 2nd quarterNEW YORK — Delinquency rates for three key consumer loan categories hit record highs in the second quarter, according to data released Thursday by the American Bankers Association. Rising unemployment and falling incomes were the main culprits for the higher delinquency rates for bank cards, home equity loans and home equity lines of credit, the ABA said.
Sector Snap: Proprietary Schools up on GAO reportSeptember 21st, 2009 Sector Snap: Proprietary Schools up on GAO reportNEW YORK — Shares of companies that run for-profit college-level schools soared Monday after a much-anticipated Government Accountability Office report offered only a relatively mild criticism of the sector. The GAO report on proprietary schools, which had been requested by Rep.
Moody's: Drop in corporate default rates expected following peakSeptember 21st, 2009 Moody's: Drop in default rates expectedNEW YORK — Based on past economic trends, Moody's Investors Service on Monday forecast that the corporate default rate would drop rapidly after peaking at the end of this year. The rate is expected to hit 12.6 percent in December, then slide to 4.3 percent by August 2010, Moody's said.
Rate of missed credit-card payments up from last year, but better than in 1Q, TransUnion saysAugust 25th, 2009 Data hints consumers handling credit cards betterNEW YORK — The rate at which credit card holders fell behind on their payments was far worse in the second quarter than it was last year, but did improve sharply from the alarming level seen in the first three months of 2009. The shift since the first quarter shows that consumers handled their credit better even as job losses mounted and the recession deepened, according to credit reporting agency TransUnion.
American Capital shares tumble after S&P cuts investment firm's credit ratingAugust 24th, 2009 American Capital shares fall after S&P downgradeBOSTON — Shares of American Capital Ltd. tumbled on Monday after Standard & Poor's Ratings Services lowered debt ratings for the investment firm, citing concerns over debt and earnings performance.
Capital 1 Financial US, international credit-card defaults rise in July; shares tumbleAugust 17th, 2009 Ahead of the Bell: Capital 1NEW YORK — Capital One Financial Corp. said Monday that defaults on its U.S.
Capital One Financial US, international credit-card defaults rise in July; shares tumbleAugust 17th, 2009 Ahead of the Bell: Capital OneNEW YORK — Capital One Financial Corp. said Monday that defaults on its U.S.
Shares of major oil companies tumble as crude prices decline with slumping consumer demandAugust 17th, 2009 Shares of oil majors tumble with crude pricesNEW YORK — Shares of major oil companies fell sharply on Monday, as crude oil prices tumbled amid new reports that signaled continued consumer spending restraint. Benchmark crude for September delivery at one point fell as much as 3 percent to $65.23 a barrel on the New York Mercantile Exchange.
Analyst expects late-stage credit card delinquencies to ease in July report due out MondayAugust 14th, 2009 Analyst: Late-stage card delinquencies easingBOSTON — A Stifel Nicolaus & Co. analyst said in a research note Friday that he expects a monthly report due out Monday will show continued easing in late-stage credit card delinquencies.
American Express reports fewer write-offs of credit card losses in JulyAugust 6th, 2009 American Express reports fewer defaults in JulyNEW YORK — American Express said Wednesday its rate of losses from credit card loans is slowing. The write-off rate on credit card balances was 9.2 percent in July, down from 10 percent for the second quarter, said Joanna Lambert, a spokeswoman for the New York-based company.
Credit card delinquency rates at American Express, Capital One decline in JuneJuly 15th, 2009 Credit card delinquencies decline at AmEx, Cap OneNEW YORK — Two major credit card providers reported more improvements in delinquency rates in June on Wednesday, an encouraging sign that borrowers are not in as bad shape as many had feared. American Express Co.
Credit card delinquency rates at American Express, Capital 1 decline in JuneJuly 15th, 2009 Credit card delinquencies decline at AmEx, Cap 1NEW YORK — Two major credit card providers reported more improvements in delinquency rates in June on Wednesday, an encouraging sign that borrowers are not in as bad shape as many had feared. American Express Co.
New study shows consumer loan delinquencies edges up to record high of 3.23 pct in early 2009July 7th, 2009 Consumer loan delinquencies continue to riseNEW YORK — Consumer loan delinquencies edged up to another record high in the first quarter, according to data released Tuesday by the American Bankers Association. A continued rise in unemployment has been the main culprit for the continued rise in delinquencies, the trade association said.
Credit card interest rates change but don't set pattern: average rate rises slightlyJune 15th, 2009 Credit card interest rates waver in past weekNEW YORK — Credit card interest rates wavered in the past week, with the lowest rates holding steady while some higher rates dipped. Overall, the average annual percentage rate charged on variable rate credit cards edged up to 10.88 percent from 10.85 percent last week, according to Bankrate.com.
Rate of missed payments for bank-issued credit cards up 11 percent in 1st qtr, TransUnion saysJune 8th, 2009 1Q credit card delinquency rate jumps 11 percentNEW YORK — Credit card holders who in ordinary years might have used their tax refunds to pay down their balances apparently spent the money elsewhere as the recession deepened in the first quarter. That's one of the conclusions that may be drawn from data showing the delinquency rate for bank-issued credit cards rose 11 percent in the first three months of the year, according to credit reporting agency TransUnion.
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