Small bank issued credit card delinquencies increase

Northwestern Financial Review, Jan 15, 2002

According to a report from the Office of the Comptroller of the Currency, the average proportion of non-current credit card loans at national banks with less than $1 billion of assets surged to 4.3 percent on Sept. 30, up from 2.18 percent a year earlier, the OCC said. But overall, more people are paying their credit card bills on time, according to the American Bankers Association.

ABA reported that at the end of the third quarter, 3.77 percent of all bank card accounts were overdue at least 30 days, which is down from 3.93 percent in the second quarter The number is higher however than the 3.21 percent of overdue accounts at the end of the third quarter in 2000.