Recent news revealed that credit card and mortgage losses continuously consume both large and small issuers’ profits.

According to American Express increased negligence and less consumerism lead to 24% decline in company’s third-quarter profits. Also, AmEx Chief Financial Officer Dan Henry says that the company anticipates yet another decline before getting better. Credit card business led the decline by a 59% of yearly decrease in net income.

As for Capital One, though there is $374 million of third-quarter earnings reported, credit card business decreased by 45% in a year and saw only 1.3% increase from the quarter before.   

A recent article in “The Wall Street Journal,” said that three Ohio financial institutions also reported extensive losses in the third quarter. Others that follow are National City, Fifth Third and KeyCorp reporting with net losses of $729 million, $56 million, and $36 million, respectively, all blaming risky commercial and residential real estate loans.

It is said that credit squeeze is to be continued throughout holidays and to the upcoming year. Financial institutions like USBancorp, M&T and Regions are reported to have net income of $576 million, $91 million, and $79.5 million, respectively.