JPMorgan Chase Reaches a Deal to Take Over the Apple Credit Card~
Of interest:
The largest bank in the #USA is buying over $20 billion of consumer debt AT A SIGNIFICANT DISCOUNT (a rarity).
"The discount in this deal reflects a high exposure to subprime borrowers and what has been a higher-than-industry-average delinquency rate..."
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#US #finance #Apple #consumers #ConsumerDebt #debt #economics #USeconomy
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RE: https://mstdn.social/@dalfen/115856288802615829
My first reason to this mini thread was to inform Apple Card holders about the change from Goldman Sachs to JPMorgan Chase.
My second was to talk about the state of American consumer debt (which is a reflection of the state of the US economy).