Credit News

Madrid - Spanish banks reported on Tuesday record-high bad loans in December as lenders continued to pay for the country's real estate bust even as the financial sector prepared to exit a 41-billion-euro ($56 billion) bailout.Doubtful loans -- those at risk of ...

Shanghai - A looming default on a $500 million Chinese investment product sold by China's largest bank ICBC to hundreds of investors appears to have been averted days ahead of deadline, a document seen by AFP Tuesday showed.

Shanghai - A shockwave is looming in China's multi-trillion dollar "shadow banking" system, with an unprecedented default only days away on a $500 million investment product sold to hundreds of people.

Madrid - Spanish banks reported Friday record-high bad loans, with more than one in eight rated as doubtful in November even as the financial sector prepared to exit a 41-billion-euro ($56 billion) bailout.

Madrid - Spanish banks, alarmed by multiple bankruptcies and mass unemployment, are keeping a tight rein on loans and potentially choking off the lifeblood of a longed-for economic recovery, analysts say.

After the housing finance bubble burst, mortgage lending went through tremendous change in an effort to keep consumers from purchasing more house than they could afford. Now, some of those same concerns are surfacing in the auto-lending sector.

Toronto - For the second time in 12 months, Ontario's credit rating has been downgraded by a rating agency. Ontario currently holds a AA- Credit rating

Utica - A U.S. Army reservist is struggling with the Bank of America over fraudulent charges he says were made to his bank account after he used his debit card. The amount in question is over $25,000.

In the short term, both the US dollar and US Treasury bonds may actually benefit from the downgrade of the US debt and react to panic buying.

A recent survey has found that cash is becoming increasingly unpopular with the British public; the big question is, will it become extinct?