Bank of America Corp. said Monday credit card defaults inched up in July, as more Americans lost jobs and many continued to struggle to pay their debts.
The credit card charge-off rate — loans the company does not expect to be repaid — rose to 13.82 percent in July from 13.81 percent in June, according to a regulatory filing.
Bank of America’s shares fell 4 percent to $16.71 in premarket trading.
