Transunion also reported a slight uptick in credit card delinquencies, but expects the rate to remain low in 2013 at 0.87% as consumers remain overly dependent on credit cards for liquidity in the current economic backdrop.
Banks including Bank of America, JPMorgan Chase, Citigroup and Wells Fargo have been profiting from a decline in defaults by borrowers. Still, Citigroup recently indicated that it won't release its mortgage loan loss reserves just yet as it remains cautious on the housing recovery.
-- Written by Shanthi Bharatwaj in New York.
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