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.
Browsing: Consumer credit
In June, consumer credit increased at a seasonally adjusted annual rate of 10.6%. Revolving credit…
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.
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 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 is working to find nontraditional ways to establish a good credit history for those with no credit.
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 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.
In April, consumer credit increased at a seasonally adjusted annual rate of 5.3%. Revolving credit…
Credit card monthly purchase volumes increased in the fourth quarter of 2020, rising 7% for super prime accounts, 8.6% for prime accounts and 8% for subprime accounts from the last quarter, according to the American Bankers Association’s latest Credit Card Market Monitor released today.