American Express says the credit crunch is messing with its bottom line. “We did see some negative credit trends among U.S. consumers during December, particularly in California, Florida and other parts of the country most affected by the housing downturn,” American Express Chief Executive Kenneth Chenault said in a statement.
Are you a cardmember? [MarketWatch]

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.