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The Federal Reserve Board of Governors in Washington DC.| www.federalreserve.gov
NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $212 billion (1.2%) in the fourth quarter of 2023, to $17.50 trillion. The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel. | www.newyorkfed.org
The annual percentage rate (APR) margins, the amount of interest credit card issuers charge cardholders on top of benchmark rates, have reached an all-time high.| Consumer Financial Protection Bureau
High interest rates and higher-than-expected costs for goods and services continue to squeeze the wallets of American consumers. This has led to many continuing to leverage their existing credit account lines more than ever. At the same time, affordability challenges for homes and automobiles, as well as growing concerns over rising debt service...| Credit Balances on the Rise as Consumers Manage Higher Costs
Digital wallets have exploded in popularity in recent years, giving Americans a fast and convenient way to pay for purchases without rummaging through a wallet or purse for paper money or a piece of plastic. However, for some consumers, the ease of paying for purchases digitally causes them to ov| Forbes Advisor
Unique data and insight into the credit conditions and activity of U.S. households| www.newyorkfed.org
For many people, credit cards are a part of everyday life. There’s a good chance you’ve got a card or two in your wallet and that you regularly use them for payments. But there’s more to cards than the plastic you carry. Credit card data also shows how people manage their cards, including when they’| Forbes Advisor