Credit card debt starting to creak
There's about $365 billion market in credit-card debt-backed securities out there. And there is fear that it will go the way of its subprime-backed cousin. The card not nearly as large, but as the economy sours, it seems fait accompli that more consumers will fall behind. Business Week notes banks, led by JPMorgan Chase and Citigroup, are reaching out to customers already, allowing various payment programs and adjustments to keep accounts active. Article
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