Are Banks Giving Up on Credit Cards?
Date: Jul 11 2012
Filed under: JP Morgan Chase, Credit Cards
Banks have taken it on the chin over the past several years. But after suffering from a long spell of bad credit card loans during the recession, they are finally getting some positive results from their credit card divisions.
Those improvements in repayment have cut losses substantially, which will allow many banks to improve their earnings by drawing on relatively high loan-loss reserves. That’s very good news for banks, which are continuing to struggle to generate profits. (The recent…
Are Banks Giving Up on Credit Cards? originally appeared on DailyFinance.com on 2012-07-11T14:44:00Z.
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