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: The Illinois Personal Injury Weblog of Schaeffer & Lamere P.C.

Credit Card Industry May Cut Back

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From Reuters via Yahoo! News: "Credit card industry may cut $2 trillion of lines: analyst"--

The U.S. credit card industry may pull back well over $2 trillion of lines over the next 18 months due to risk aversion and regulatory changes, leading to sharp declines in consumer spending, prominent banking analyst Meredith Whitney said.

The credit card is the second key source of consumer liquidity, the first being jobs, the Oppenheimer & Co analyst noted.

--Posted by Edwardsville Illinois personal injury lawyers and the Alton Illinois auto accident attorneys of Schaeffer & Lamere, P.C., handling Missouri and Illinois accidents, personal injury, products liability, workers' compensation, medical malpractice, truck accidents, and all other types of injury cases.

Full post as published by The Illinois Personal Injury Weblog of Schaeffer & Lamere P.C. on December 01, 2008 (boomark / email).

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