St. Tammany Parish president’s credit card use reviewed
News from NOLA.com:

Once a month, before the St. Tammany Parish Council holds its regular monthly meeting, the parish’s department heads and other administration officials enjoy a catered dinner at the expense of the taxpayers, at an average cost of $ 300.

And once a week, St. Tammany residents foot the bill for a breakfast meeting at a Mandeville restaurant attended by Parish President Kevin Davis and his top four staffers.

The parish spent nearly $ 9,000 on meals for employees before council meetings between January 2008 and May 2011, plus thousands more for the breakfast events.

And that total doesn’t take into account the thousands upon thousands of dollars that officials spent on working lunches, celebratory dinners and meals while traveling both near and far from the north shore on parish business. The meals sometimes included delicacies…………… continues on NOLA.com
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Capital One June credit card defaults edge lower
News from Forbes:

NEW YORK — Capital One Financial Corp. on Friday said the rate at which it wrote-off unpaid credit card balances fell again in June, while late payments ticked up slightly.

The McLean, Va.-based bank’s U.S. credit card charge-offs, or the balances written off after they were six months late, fell to $ 198 million, or 4.41 percent of balances on an annualized basis. That was down from $ 217 million, or 4.84 percent of balances, in May.

It was the third straight month the default rate was below 5 percent, a threshold that hadn’t been seen since 2007 before April. The figure peaked at 10.87 percent in March 2010.

The monthly data, filed with the Securities and Exchange Commission, follows financial results for the second quarter released Tuesday that showed Capital One was able sharply reduce the amount it holds in reserves to cover uncollected bills. The reduction of $ 579 million in reserves was a major contributor to the 50 percent profit leap the…………… continues on Forbes
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