Why Are Small-Bank Credit Card Delinquencies Up?

Our friends at the St. Louis Fed present us with a mystery this week:

In the third quarter of 2017, small banks saw a huge surge in credit card delinquency rates. Nor was this just a weird spike: delinquencies have stayed high ever since. Meanwhile, big banks have seen no change at all. What’s going on?

The St. Louis Fed folks don’t know. I don’t know either. But something sure seems to have happened in the summer of 2017. Anyone have any guesses?

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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