Credit cards offered in conjunction with colleges, universities and affiliated organizations have continued to decline…
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Questions and answers from the July/August 2021 ABA Regulatory Policy and Compliance Inbox.
Customer satisfaction with credit card issuers declined this year as card issuers worked to meet consumers’ needs amid continued economic volatility, according to the J.D. Power 2021 Credit Card Satisfaction Study released today.
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.
As the small business recovery took off in the second quarter, a substantially larger share of banks reported easing standards for business loans, continuing the easing trend seen in the first quarter of 2021, according to the senior loan officer opinion survey released by the Federal Reserve 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.
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.
Credit card rewards are accessible, valuable and well-understood by consumers across all income levels, according to a new report released today by the American Bankers Association, which examined the value of rewards cards to merchants and consumers across various income levels and credit score ranges.
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.
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.