US Banks Report Deteriorating Credit Quality as Borrowers Don't Pay Bills

Last Sunday, Reuters reported:

Many US banks may find themselves stuck with more borrowers unable to pay their bills. Shareholders may not care.

Since then, however, JPMorgan (JPM), Wells Fargo (WFC), Washington Mutual (WM), US Bancorp (USB), IndyMac Bancorp (NDE), Marshall & Ilsley (MI), and Banco Popular, among others, have reported quarterly results that show evidence of deteriorating credit quality. Under the circumstances, it seems a good bet that optimistic investors will soon be forced to reconsider their stance.

Unless, of course, they enjoy losing money.

Comments

[Credit:]

Pay the bills on time is a good way to improve credit score, but in this financial crisis period, more people will find them difficult to do that.

Mar 25 12:08 PM