Newsbytes

ABA Pledges Support in Wake of Hurricane Irma

As Hurricane Irma tore through Florida this weekend and continues to make its way through the Southeast, ABA President and CEO Rob Nichols pledged the association’s continued support to banks affected by the severe storms, flooding and high winds.

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Consumer Credit Growth Accelerated in July

Consumer credit increased at a seasonally adjusted annual rate of 5.9% in July, up from a downwardly revised 3.8% rate in June. Total outstanding credit increased $18.5 billion during the month (compared with $11.9 billion in June) to $3.75 trillion. Revolving credit, largely a reflection of credit card debt, grew at an annual rate of 3.2% to $1.0 trillion, compared ...

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