Loans With Outstanding Payday Loans - Will Consumer Credit Feel the Crunch? - BusinessWeek
Discover Financial Services ( DFS ; S&P investment rank, 3 STARS, hold) also reported that its consumer spending confidence index, which surveyed 14,000 adults about their spending habits, showed a sequential decline in November. American Express ( AXP ; 4 STARS, buy) saw a modest pick-up in delinquencies in its credit card lending business in the third quarter, but that rise was largely a result of conditions returning to their long-term historical average from extremely low levels. Capital One Financial ( COF ; 3 STARS), which is more exposed to lower quality consumers, took higher provisions in the third quarter in anticipation of a rise in charge-offs in both its U. The large banks with credit card operations, including Bank of America ( BAC ; 5 STARS, strong buy), Citigroup ( C ; 3 STARS), and JPMorgan Chase ( JPM ; 4 STARS) have, as of yet, not reported a major increase in delinquencies or charge-offs related to their consumer finance businesses. Learn more
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