Balances 90 days past due are noticeably higher in 2017, new N.Y. Fed data shows. Though the trend has a lot to do with positives like economic expansion and easier access to credit, officials said it deserves careful attention.
The Riverwoods, Ill., company is trying to assure Wall Street that its higher chargeoff rates signal a return to normalcy, rather than a cause for alarm.
Auto risks mounting. Mortgage market tightening. Are there any good risks these days in consumer lending? Regional bank executives insist partnerships with online lenders, unsecured personal loans and other niche efforts can work if done properly.
Though a 33% decline in net income was attributable to large one-time gains that the credit card issuer recorded in the second quarter of 2016, Amex faces major challenges in the pursuit of growth opportunities.
The firm’s latest financial outlook suggests an opportunity to earn profits comparable to those recorded by large, well-established credit card issuers.
