Credit Card Defaults Hit 14-Year High, Costing Lenders $46 Billion
US lenders are facing a massive wave of credit card defaults, the highest in 14 years. In the first nine months of 2024 alone, they wrote off a staggering $46 billion in bad loans – a 50% jump from the previous year. Who’s Feeling the Pinch? The problem is widespread, impacting major players like Capital…
