Saturday 31st of July 2010
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Jennifer Waters at MarketWatch writes March 9: U.S. banks charged off a record $83.3 billion in credit-card losses last year. That makes up the bulk of the $93.2 billion drop in outstanding credit-card debt that was reported by the Federal Reserve for 2009. "The reduction in credit-card debt is not because consumers have found a bag of cash under their mattresses and are now paying down their debt," said Odysseas Papadimitriou, chief executive of CardHub.com. To read more, click this link:
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