“Credit card CEO warns of dark times when the $600 unemployment benefit expires”
July 22, 2020
“Margaret Keane has been in the credit card business for 40 years and she’s seeing something she never expected: There’s mass unemployment, yet Americans are paying their bills on time. In normal times, that’d be good sign of financial responsibility. But in the pandemic era, it may just be the calm before the storm.Keane, the CEO of Synchrony Financial, the nation’s biggest store credit card company, told CNN Business Americans will have trouble staying current on their credit card bills once generous forbearance programs and the $600 boost to unemployment benefits fade away…”
https://www.cnn.com/2020/07/22/investing/credit-card-debt-synchrony-unemployment/index.html