CREDIT CARD LOSSES FOR BANKS WILL BE MOUNTING

Next challenge for banks: Credit card losses Number usually tracks unemployment, but this time it may be worse http://www.msnbc.msn.com/id/30673906/ According to estimates by Oliver Wyman, a management consulting firm, card losses at the nation’s biggest banks could exceed $141.5 billion by 2010 if the regulators’ loss rate was applied to their entire credit card business. It could reach $180 billion for the entire credit card industry.