Browsing: Credit cards

Newsbytes

Outstanding household debt increased by 0.9% in the first quarter of 2019, rising by $124 billion to land at $13.67 trillion, the Federal Reserve Bank of New York reported today.

Policy

After Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Sen. Bernie Sanders (I-Vt.) today unveiled a bill that—among other things—would cap consumer loan annual percentage rates at 15% nationwide, the American Bankers Association forcefully pushed back with quotes in several media reports.

Economy

A small net percentage of banks reported easing standards and terms for loans to large and midsize firms in the previous quarter, while on net no banks eased standards for small businesses, according to the Federal Reserve’s latest senior loan officer opinion survey released today.

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