“US bank profits jump but watchdog warns of stress”
September 9, 2024
“The U.S. banking industry recorded higher profits in the second quarter of 2024, but the Federal Deposit Insurance Corporation on Thursday identified several lingering areas of concern including commercial real estate and credit cards. …However, it also noted that signs of strain in commercial real estate and credit card borrowing had jumped to levels not seen in a decade...
On the consumer front, the net charge-off rate for credit cards, effectively the amount of credit card balances banks do not expect to collect, rose to 4.82%, its highest since 2011…”
https://finance.yahoo.com/news/us-bank-profits-jump-11-140759558.html