Consumer Credit Increases 4.7% in July
In July, consumer credit increased at a seasonally adjusted annual rate of 4.7%. Revolving credit…
Browsing: Consumer credit
Report: Credit Card Purchase Volume Remains Strong in First Quarter
Credit card monthly purchase volumes were mostly unchanged in the first quarter compared to the fourth quarter of 2020 but remained strong as consumers continued to drive the economic recovery, according to ABA’s latest Credit Card Market Monitor released today.
Consumer Credit Increases in June
In June, consumer credit increased at a seasonally adjusted annual rate of 10.6%. Revolving credit…
CFPB: Credit Applications Rebound to Pre-Pandemic Levels
Credit applications have largely rebounded to their pre-pandemic levels after a significant drop during the crisis, though there was substantial variation in the path to recovery for different credit types, according to a new research brief from the Consumer Financial Protection Bureau today.
Financial Trades: 36% Fee and Rate Cap Could Constrain Credit
A coalition of financial trade groups including ABA today urged Senate Banking Committee members to reject any legislative proposal that would impose a national fee and interest rate cap of 36%, noting that such a cap would create barriers to credit access for consumers.
Consumer Delinquencies Decline in First Quarter of 2021
Consumer credit delinquencies declined in the first quarter of 2021—following a rise the prior quarter—as the economy rebounded strongly, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin released today.
OCC Working With Tech Firms on Credit Score Alternatives
OCC is working to find nontraditional ways to establish a good credit history for those with no credit.
ABA Report: Business, Consumer Credit Markets to Experience Sustained Rebound
Top economists from the largest U.S. banks anticipate a sustained rebound in consumer and business credit market conditions over the next six months, according to ABA’s Credit Conditions Outlook released today.
Consumers Pay Down $56.5 Billion Credit Card Debt in First Quarter
Consumers paid down $56.5 billion in credit card debt in the first quarter of 2021, a 51% larger pay down than the post-Great Recession first quarter average, according to a new report from WalletHub released today.
Consumer Credit Growth Increased in April
In April, consumer credit increased at a seasonally adjusted annual rate of 5.3%. Revolving credit…