JPMorgan to See Higher Credit Card Charge-offs

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00009730-jpmorgan-to-see-higher-credit-card-charge/

JPMorgan Chase & Co. said on Thursday that under new federal rule interpretations it will increase minimum payments due on some of its credit cards which in turn could hike payment defaults and charge-offs.

The new Office of the Comptroller of the Currency guidance, which applies to all the banks it regulates, comes on the heels of increasing concern that current, low credit card minimum payments increase credit risk at banks and mask risky customers, the No. 2 U.S. bank said in a regulatory filing.

For this complete story, please visit JPMorgan to See Higher Credit Card Charge-offs.

JPMorgan to See Higher Credit Card Charge-offs

Unknown Author

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