UPDATE 1-Bank of America credit card defaults inch up
Published: 17 Aug 2009 18:58:52 PST* Credit card charge-off rate inches up to 13.82 pct
* Shares fall 4 percent in premarket trading
NEW YORK, Aug 17 - Bank of America Corp, the largest U.S. bank, said on Monday credit card defaults inched up in July, as more Americans lost jobs and many continued to struggle to pay their debts.
The credit card charge-off rate -- loans the company does not expect to be repaid -- rose to 13.82 percent in July from 13.81 percent in June, according to a regulatory filing.
Bank of America's shares fell 4 percent to $16.71 in premarket trading.
Go to Page
Page 1 of 1
1
Source:
Reuters
If you believe an article violates your rights or the rights of others, please contact us.
Digg
Reddit
Mixx it
FacebookRelated News
Most Read
- 1BYD Auto to expand into solar energy field
- 2Entrepreneurblues
- 3AUTOSHOW-INTERVIEW-UPDATE 1-Changan Ford Mazda
- 4ANALYSIS-CFTC cautious on position limits, set
- 5Beyond The Anti-Virus Arms Race
- 6Beware of phishing scams if you are using
- 7Help protect yourself from phishing scams and
- 8Xi'an to launch industrial zone
- 9China Longyuan Power plans HK$17.5-bln HK IPO
- 10INTERVIEW-StanChart eyes $800 mln in renewable
