Citigroup 2Q Earnings Down 37%; Trading Revenue Declines
Hurt by a big drop in trading revenue, Citigroup reported a 37 percent slide in second-quarter profit to $2.7 billion, or 9 cents a share, compared to $4.28 billion, or 49 cents, a year ago.
Citigroup results topped ...
Bank of America 2Q Profit Slips; But Credit Losses Declining
Lower costs to cover bad loans helped Bank of America beat estimates with second quarter net income of $3.12 billion, or 33 cents a share, down slightly from $3.22 billion reported a year ago.
But future uncertainty ...
Bank Credit Card Delinquencies Fall to 2002 Level, ABA Says
Bank-issued credit card delinquencies dipped slightly in the first quarter of 2010 – the first time such late payments have fallen below 4 percent since the second quarter of 2002, according to the American Bankers ...
U.S. Consumer Bankruptcies Up 14% in First Half of 2010
U.S. consumer bankruptcy filings totaled 770,117 in the first six months of 2010 – a 14 percent increase over the 675,351 filings from the same period a year ago.
The consumer filings for January-June of this ...
Auto Loan Delinquencies Keep Slowing Down: TransUnion
The auto loan delinquency rate – at least 60 days overdue – continued to slide in the first quarter of 2010, down to 0.66 percent, according to the credit reporting agency TransUnion.
The delinquency rate fell ...
Credit Card Debt, Late Payments Fall in 1Q , TransUnion Says
Consumers lowered the credit card balances on average almost 11 percent over the past 12 months, and fewer were late on their payments in the first quarter, pushing down the 90-day delinquency rate nearly 16 percent ...
FTC: Credit Card Debt Settlement Tips, Red Flags
The Federal Trade Commission today is urging caution for those with mounting credit card debt who seek companies that promise “pennies on the dollar” solutions.
There is no guarantee that a debt settlement company ...
Faster Pace in 2010: FDIC Says Bank Failures at 37
The Federal Deposit Insurance Corp. reported the failure of 7 more banks this week, bringing this year’s total to 37, representing a pace that will easily surpass last year’s total of 140 bank collapses.
Through ...
Discover: Credit Card Late-Pays Ease, But Sees 1Q Loss
Discover Financial Services sees a more positive outlook for 2010 with a stabilizing credit card delinquency rate, but it took a net loss of $104 million, or 22 cents a share, in the first quarter ended Feb. 28 ...
Bank of America Shifts Credit Card Unit, Leadership
Bank of America, the nation’s top lender and second-largest credit card issuer, is combining its troubled Global Card Services with its deposits business under Susan Faulkner, who’s been with the bank for 25 ...
