Tag Archives: consumer credit

Trade Groups Call for Further Clarification to MLA Rules

ABA and six other financial trade groups wrote to the Department of Defense on Friday urging the department to take additional steps to clarify inconsistencies and confusion that still surround the amended Military Lending Act rules and a subsequent interpretive rule issued by DOD.

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Consumer Credit Growth Slowed in April

Consumer credit increased at a seasonally adjusted annual rate of 2.6% in April, down from a revised 6.2% rate in March. Total outstanding credit increased $8.1 billion during the month (compared with $19.6 billion in March) to $3.82 trillion. Revolving credit grew at an annual rate of 1.8% to $1.0 trillion, compared to a 6.5% increase in March. Non-revolving credit ...

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ABA Expresses Concern about Using Alternative Data for Credit Scoring

Banks are generally open to the idea of using alternative data sources -- such as mobile phone bills and rent payments -- to help consumers establish a credit history, but concerns about compliance, data integrity and other risks stand in the way, ABA said today in a comment letter to the Consumer Financial Protection Bureau.

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Consumer Credit Growth Strong in March

Consumer credit increased at a seasonally adjusted annual rate of 5.2% in March, up from a revised 4.4% rate in February. Total outstanding credit increased $16.4 billion during the month (compared with $13.8 billion in February) to $3.81 trillion. Revolving credit grew at an annual rate of 2.4% to $1.0 trillion, compared to a 2.0% increase in February. Non-revolving credit ...

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ABA Calls for Better Rules to Encourage Small-Dollar Credit

In a sixth white paper to the Treasury Department today, ABA highlighted the important role that small-dollar credit plays in helping consumers meet their financial needs, and called on regulators to remove barriers that impede banks from making small-dollar loans.

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Consumer Credit Growth Strong in February

Consumer credit increased at a seasonally adjusted annual rate of 4.8% in February, up from a 3.5% rate in January. Total outstanding credit increased $15.2 billion during the month (compared with $10.9 billion in January) to $3.79 trillion. Revolving credit grew at an annual rate of 3.5% to $1.0 trillion, compared to a 3.2% decrease in January. Non-revolving credit rose ...

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