Tag Archives: consumer credit

Consumer Credit Growth Slowed in June

Consumer credit increased at a seasonally adjusted annual rate of 3.9% in June, down from a revised 5.7% rate in May. Total outstanding credit increased $12.4 billion during the month (compared with $18.3 billion in May) to $3.86 trillion. Revolving credit grew at an annual rate of 4.9% to $1.0 trillion, compared to an 8.2% increase in May. Non-revolving credit ...

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Consumer Credit Growth Accelerated in May

Consumer credit increased at a seasonally adjusted annual rate of 5.8% in May, up from a revised 4.1% rate in April. Total outstanding credit increased $18.4 billion during the month (compared with $12.9 billion in April) to $3.84 trillion. Revolving credit grew at an annual rate of 8.7% to $1.0 trillion, compared to a 1.4% increase in April. Non-revolving credit ...

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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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