Tag Archives: credit card

Stacy Summary: Check out gold this morning.  Wonder if it’s a bank or an economy threatening to go under?

• Lehman says Barclays got $5 billion discount, wants assets back

• U.S. credit card defaults up, signaling consumer distress

Bank of America Corp and Citigroup Inc customers defaulted on their credit card debts in August at the highest rates since the onset of the recession, a sign that the banks’ consumer lending woes are far from over.