Credit card delinquencies rise
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The number of U.S. consumers who paid their credit card bills more than 30 days late rose in the second quarter to the highest level in a year, according to the American Bankers Assn. Credit
card delinquencies rose to 3.91% from April to June. That compares with 3.88% in the first three months and was the highest since the second quarter of last year, when the rate was 3.93%.
The rise “reflects the avalanche of layoffs over the past year and a half,” ABA chief economist James Chessen said. MORE TO READ