Technology

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Fifth Third Bancorp said Wednesday it expects charge-offs to continue to rise through 2009, which will in turn force the bank to set aside more cash to cover the losses.

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Capital One Financial Corp. reported an increase in its May net chargeoff rate, with the annualized chargeoff rate for the company's $67.9 billion credit card portfolio rising 20 basis points to 6.28%, up from 6.08% in April.

United States-based auction Web site owner eBay Inc. Monday postponed a mandate scheduled to begin today that would allow only PayPal, eBay's payment service, as an online-payment option on the company's Australian Web site (CardLine Global, 16/6). In a statement, eBay says it will continue to challenge the Australian Competition and Consumer Commission's decision last week to delay the mandate while the commission investigates whether it is anticompetitive. EBay says it is "disappointed that the [commission's] current view delays the opportunity to provide consumers a more-secure way to shop on eBay.com.au with confidence." EBay intends to work with the commission and hopes to achieve an outcome "which has the safety and security of eBay's members as its paramount objective," the company says in a statement. EBay says it will delay the removal of other payment methods from the site until 15 July. The company declined further comment when contacted by CardLine Global.

Rising medical bills and other debts have prompted elderly Americans to seek bankruptcy court protection at sharply faster rates than other adults, according to research released Tuesday by the Consumer Bankruptcy Project.

In search of every possible way to trim costs, U.S.-based companies long have sought to cut one of their biggest expenses – payroll – by tapping into markets where labor rates are lower than those back at home. But while hiring offshore outsourcers once was associated with compromising on quality, developing countries are going to great lengths to eliminate this reputation. Today, destinations such as India, the Philippines and Central and Latin America offer call center talent that is up to speed with what it takes to do business in the United States.

Wyoming Medical Center plans to administer an easier application process for charity care patients, according to Nancy Brandt, chief financial officer. Of about $30 million in uncompensated care provided by the Casper, Wyo.-based health care group each fiscal year, about 20% is from charity care patients and 80% is from "bad debt" patients.