Fed: Poor Demand from Credit-Worthy Borrowers Hurting Banks

Credit losses continue on the rise, and banks are facing “sizable additional” losses, particularly as a result of poor demand from credit-worthy borrowers. The picture Greenlee drew suggested that a crisis is still brewing, and possibly yet to peak, in the commercial lending arena, fueled by the sharp declines in the value of commercial properties and land.

Read more

Bank of America Offers 'Clarity' Ahead of Credit Card Reform

Bank of America is the first major credit card issuer to announce a solution that falls under the “Plain Language in Plain Sight” provision of reform laws that take effect in February. BofA, the nation’s largest bank by assets, calls it “Credit Card Clarity Commitment,” a one-page summary of customers’ rates, fees and payment information.

Read more