Delinquencies

All six big card issuers reported higher chargeoffs in their credit card businesses, a sign that the post-crisis era of exceptionally strong credit performance has run its course.

The era of exceptionally strong loan performance in the credit card business has come to an end, and the Riverwoods, Ill., firm is feeling the effects.

Most of the delinquencies and chargeoffs were in the bank’s credit card and auto loan portfolios

New data from the American Bankers Association is the latest warning sign for the sector.

Focusing on the rise of auto financing delinquencies ignores the bigger picture: Loan volume has grown on all risk tiers and defaults are a natural part of the process.

The Stamford, Conn., credit card issuer reported net income of $576 million, up 5.3% from the same period a year earlier.