Payments News


Here’s How Hard the Coronavirus Shutdown Will Bite the Big Credit Card Lenders

“As identified coronavirus infections increase rapidly in the U.S., the biggest economic effects will be felt months from now. Still, analysts at Oppenheimer have projected that five U.S. credit card lenders will remain profitable in 2021, despite a large increase in loan losses. Those projections are below. The Oppenheimer analysts, Dominick Gabriele and Raphael Posadas, published their report on March 25, before seeing Thursday’s unemployment figures, which included a record 3.28 million in claims for the week ended March 21.”