Top 4 Credit Card Issuer Q1 P/L Collapses Nearly 30% YOY
Profits (after tax) among the nation’s top four bank credit card issuers dropped 28.6% in the first quarter (1Q/17), compared to one year ago (YOY), and down 20.7% sequentially (QOQ), according to CardData. BofA was the only issuer with a positive YOY gain in credit card profits. Capital One credit card profits nosedived more than…