A.I.G. Sells Mortgage-Backed Paper to Credit Suisse (New York Times)
Posted in Credit Card Debt, Loan Modifications by admin on July 15th, 2009
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American International Group s consumer lender will receive as much as $975 million selling mortgage-backed certificates to Credit Suisse Group after losing access to its usual sources of funding, Bloomberg News reported.
Capital One credit card defaults rise in June (Reuters via Yahoo! News)
Capital One Financial Corp’s U.S. credit card defaults rose in June as unemployment increased and Americans struggled to pay their debts, but the figures were better than expected and the company’s shares rose 3.2 percent.
CIT customers reportedly draw down credit lines (Market Watch)
CIT Group Inc.’s precarious situation deteriorates further as customers reportedly draw down more than $750 million from their credit lines.
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