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Banks are bracing for consumers to stop paying off their credit cards, delinquency rates hit 12-year high (qz.com)

submitted 3 months ago by return2ozma@lemmy.world to c/personalfinance@lemmy.ml

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[–] Turbo@lemmy.ml 1 points 2 months ago

They also hedge and buy insurance to cover potential defaults and then they write off the bad loan they got stuck with to help offset taxes... So it's kinda good in a way and they want some but it makes business sense to find the right balance to keep regulators happy and make maximum profit.