World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Card Firms' Loss Tally: Billions of Dollars in Fees
Keywords:
Tags:
The percentage of credit card balances owed by subprime customers, according to Keefe Bruyette and Woods, is 30.3% for Bank of America, 29.8% for Capital One, 27.9% for Discover, and 27.3% for Citigroup. The companies ranked by market share in private label cards are GEneral Electric 39.2% and Citigroup 21.7%. All these companies that have turned risky customers into cash cows with hefty fees and interest rates will see much of this disappear with the President's new law banning some of the practices of these companies that hurt consumers. Most of the credit card industry has operated without some of the basic consumer protections one would expect in a highly educated and literate society with democratic governance. Even retailers like Target depend on this for profits. Target which has its own credit card operation earned $355 million in credit finance charges and $87 million in late fees and other revenue in the last fiscal quarter.
Homeowners facing foreclosure and lack of any meaningful help.
09/29/2008
Lack of any meaningful help to homeowners facing foreclosure upto the Lehman Fannie crisis, and the failure to provide any significant help to homeowners in the $700 billion Sept 2008 bailout plan targeted mostly at freeing up the credit markets.
Grouped Articles
Wall Street Journal 12/31/2013
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
New York Times 10/02/2008
Rescue Includes Steps to Help Borrowers Keep Homes
Wall Street Journal 09/29/2008
Card Firms' Loss Tally: Billions of Dollars in Fees
Wall Street Journal 05/22/2009
Consumers Need a Credit Watchdog
BusinessWeek 07/15/2009
Business credit card debt surge and rising default means the 27 million U.S. small business owners are less likely to hire
07/05/2008
Between 2000 and 2009 there was a sixfold jump in the number of business credit cards to 29 million and the debt on these cards jumped four fold to $296 billion. Small business owners acquired the bad habit of using these cards for operating expenses. with rising default rates, small businessowners are less likely to hire and create jobs as they have done before.
Grouped Articles
A Warning Light to Alert the I.M.F.
New York Times 09/21/2011
Big Banks Cut Back on Loans to Small Business
Wall Street Journal 11/27/2015
Credit Card Overhauls Seem Likely
New York Times 07/05/2008
New Indian Middle Class Gets Caught In the Whirlwind of Revolving Credit
Wall Street Journal 10/28/2008
AmEx Gets Access to Bailout Fund
Wall Street Journal 11/11/2008
Risky Business for AmEx Holders
Wall Street Journal 11/12/2008
Credit card debt surges and the effects on U.S. consumer spending, followed by household debt reduction.
07/05/2008
The result is huge swings in consumer spending, first with rising debt and then with debt reduction and the cultural shift to different lifestyles.
Grouped Articles
A Warning Light to Alert the I.M.F.
New York Times 09/21/2011
Deleveraging: It's Not Over Till It's Over
Wall Street Journal 03/11/2009
How Righteousness Killed the World Economy
New York Times 10/12/2014
Americans’ Debt-Cutting Levels Off
Wall Street Journal 12/12/2014
An Ambiguous Omen, U.S. Household Debt Begins to Rise Again
New York Times 02/18/2014
Americans Pocketing What They Save on Gas, Retail Data Suggests
New York Times 01/14/2015
The low cost and discount brands become important to shoppers and businesses.
07/16/2007
WIth about 7 million workers working less than 35 hours aweek and many facing a couple of days of furlough, or pay cuts, the family shops very carefully and on a budget. Businesses are paying attention, and even companies like P&G (Procter & Gamble) are pushing discount brands.
Grouped Articles
P&G to Cut Package Sizes for Diapers
Wall Street Journal 09/08/2013
P&G to Shed More Than Half Its Brands
Wall Street Journal 08/02/2014
P&G's Global Target: Shelves of Tiny Stores
Wall Street Journal 07/16/2007
New York Times 07/28/2007
Vera Wang Set to Dress Up Kohl's
Wall Street Journal 08/01/2007
Wal-Mart Looks to Grab Gains in Gadgets
Wall Street Journal 08/02/2007
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us