Credit card lenders issued 1.1M new cards to borrowers with damaged credit in December, up 12.3% Y/Y, and part of a trend of banks tiptoeing back into subprime lending. The banks - needing to make up for billions in lost fee and other income from recent regulatory overhaul - insist they are distinguishing between chronic deadbeats and "fallen angels."
Credit card lenders issued 1.1M new cards to borrowers with damaged credit in December, up 12.3%...
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