Linda talks to Ann Reilly Dowd, Washington correspondent for Money Magazine, about the record high credit card delinquency reported today by the American Bankers Association. During the April-June quarter of this year, credit card payments overdue 30 days or longer rose to 3.66 percent of the total accounts, higher than it has ever been since the association began collecting data in 1974. During that same period, banks suffered $3.8 billion in losses on credit card and consumer loans, according to the Federal Deposit Insurance Corp.
Copyright 1996 NPR