Advanta Corp., the issuer of credit cards for small businesses, will halt new lending for its 1 million customers next month as the recession causes a surge in loan defaults. ...
Advanta said ... charge-offs, or uncollectible debt, reached 20 percent on some cards as of March 31. "We'll be shutting down accounts for future transaction activities,
Source:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a_FhoI2A4ZsM
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