Daniel Indiviglio - Daniel Indiviglio was an associate editor at The Atlantic from 2009 through 2011. He is now the Washington, D.C.-based columnist for Reuters Breakingviews. He is also a 2011 Robert Novak Journalism Fellow through the Phillips Foundation. More

Indiviglio has also written for Forbes. Prior to becoming a journalist, he spent several years working as an investment banker and a consultant.

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US Credit Card Defaults Show Signs Of Stabilizing

By Daniel Indiviglio

Aug 17 2009, 5:50 PM ET Comment

The rate of U.S. credit card defaults showed signs of stabilizing last month, an indication that American consumers may not be in as bad shape as feared despite job losses and the housing slump.

Bank of America Corp (BAC.N) in a regulatory filing on Monday said credit card default rates dropped in July after several months of a steep deterioration. JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N), and Discover Financial Services (DFS.N) also said bad-loan levels fell.

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