Credit card ROA may hit all-time high

THOUSAND OAKS, Calif. – According to R.K Hammer Investment bankers the return-on-assets for the credit card industry may reach its highest levels since 1989. Despite eleven federal rate cuts, charge offs/losses have reached a 10-year high with credit card operating expenses at its highest level since 1992. Predictions are that 2002 will be a rough year for the industry as delinquencies, charge-offs and bankruptcies are expected to increase as unemployment and layoffs continue. -