Last month, 6.65% of subprime borrowers were at least 60 days late on their car payments. That’s the highest delinquency rate since the 1990s, according to Fitch Ratings.
As part of the proposed settlement, the credit card companies will temporarily lower the swipe fees for merchants. But not everyone sees this as a satisfying end to a legal battle that stretched on for 20 years.
The International Energy Agency predicts production to outstrip demand by a record 4 million barrels per day by next year. Meanwhile, there are about a billion barrels in tankers currently at sea.
The latest NFIB survey of small businesses found nearly a quarter of small businesses raised prices last month. And nearly a third plan to do so in the next three months.
