TITLE

Joblessness Clouds Bank Sector's Turn

AUTHOR(S)
Landy, Heather
PUB. DATE
May 2010
SOURCE
American Banker;5/24/2010, Vol. 175 Issue 79, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that persistence of unemployment in the U.S. is reducing the success rate for consumer loan restructurings. According to the article, a U.S. Labor Department jobs report released on May 20, 2010 contributed to the low stock market as it was announced that initial jobless claims rose to the highest level in a month. The duration of unemployment and bankers' difficulty of finding alternatives for borrowers behind on their payments are discussed.
ACCESSION #
50834025

 

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