Economy, Consumer Credit | featured news

Loan losses drag on Wells Fargo, other big banks

Several major U.S. banks, led by Wells Fargo & Co, said the troubled economy drove credit losses higher, reducing profitability in the second quarter.

 

Credit card delinquencies at record high

Credit card delinquencies at record high

Soaring unemployment and a shrinking economy drove delinquencies on credit card debt to an all-time high in the first quarter.

 

FDIC Hopes to Kickstart Lending

The FDIC plan to expand its debt-guarantee program is part of an aggressive government push to persuade banks to make more consumer loans and kickstart the economy.

 

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