Most credit card holders have active rewards cards, including more than three-quarters of balance-active cardholders with a household income less than $50,000.
Browsing: ABA Data Bank
U.S. banks extended $174 billion in farm loans in 2020, of which $98.5 billion came from farm banks that specialize in the ag space.
The chief economists of North America’s largest banks expect a sustained rebound in both consumer and business credit market conditions over the next six months, according to ABA’s latest Credit Conditions Index.
The U.S economy is recovering rapidly and is expected to yield inflation-adjusted growth of 7.2% over the four quarters of this year before easting to a still-robust 3.1% in 2022, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee.
Nearly 5.2 million out of the 5.7 million round 3 PPP loans have gone to small businesses with 10 employees or fewer, accounting for 40% of round three funds.
According to a survey by the AARP, 85% of adults over the age of 50 owned a smartphone in 2020, up from 79% in 2019. Making a purchase, financial transactions, and comparison shopping made the top 10 list of activities cited by older Americans.
America’s banks, who have delivered nearly 8.4 million PPP loans worth $722 billion, supported 63.0 million jobs through first-draw loans and another 20.8 million jobs through second-draw loans.
Consumer confidence has risen 7.6 points since the end of 2020 as a result of a “growing sense that the upward momentum in jobs and income will persist,” according to the University of Michigan survey of consumers.
Weekly job posting data from Burning Glass Technologies show that businesses are looking to rehire, with postings for low-skilled jobs up 46% and postings for high-skilled jobs up 8% since the start of the pandemic.
The Federal Reserve found “remarkable stability in the actual and expected uses of stimulus checks” across all rounds of Economic Impact Payments, with most funds going towards saving and debt payments.