Bankruptcies Hurting Credit Card Industry: Nearly half...
From Times Staff and Wire Reports
Bankruptcies Hurting Credit Card Industry: Nearly half of all credit card losses are now attributable to personal bankruptcies, up from a third only one year ago, according to an industry report. The finding--contained within the American Bankers Assn.’s annual credit card survey--demonstrates how the recent uptick in personal bankruptcies could harm the credit card industry. The trade group warned that if allowed to continue, the bankruptcy trend may result in higher credit card prices and fees.
