Pandemic Threatens Billions in Credit-Card Losses in Echo of ’08
- Regulators give banks more leeway to ease consumer debt burden
- Credit-card balances reached a record $930 billion last year
Photographer: David Paul Morris/Bloomberg
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For Bethany and Derick Hingle, every dollar counts now.
In just a matter of weeks, the New Orleans couple -- he’s a self-employed photographer, she works at a jewelry store -- watched most of their income evaporate as the coronavirus pandemic shuttered businesses.