Delinquencies

Wells Fargo and the denial stage of recovery; community bankers alarmed after big banks backtrack on faster-payments pricing; credit card, auto loan delinquencies hit seven-year high; and more from this week's most-read stories.

U.S. credit card debt hit $870 billion — the largest amount ever — as of Dec. 31, according to data from the Federal Reserve. Credit card balances rose by $26 billion from the prior quarter.

The government-sponsored enterprises are going through a transition period. From proposals for rebuilding their capital cushions to tackling shortages in affordable housing, Fannie Mae and Freddie Mac face a number of key challenges with wide-ranging consequences this year.

An “emergency merger” with the troubled Progressive Credit Union gives PenFed — already the nation’s third-largest credit union — the ability to welcome any potential member nationwide.

Delinquencies have held steady for a year, and observers are optimistic about upcoming third-quarter data. But the long-term question is whether solid underwriting can overcome higher vehicle prices and consumer debt burdens.