Consumer Lending on the Skids for Banks, CUs, Fed Report Reveals

Report shows records set in August for slow 12-month gains in credit cards and falling balances for consumer term loans.

By Jim DuPlessis | October 08, 2024 at 04:00 PM

Banks and credit unions in August made their smallest 12-month gain in credit card balances since late 2021, when they were starting to climb out of the pandemic-era slump, according to a monthly report from the Fed.

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Consumer Lending on the Skids for Banks, CUs, Fed Report Reveals

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