CHART OF THE DAY: Credit Card Loss Rate At All-Time High

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Everyone knows that banks are going to take a bath on their credit card portfolios. The question is: How bad will it get. Not surprisingly, we’ve alredy reached an all-time high charge-off level, but nobody expects it to peak anytime soon. Bankruptcy filings, meanwhile, are creeping back up, but are still well below the levels seen before the law changed.

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