Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The drop in credit card balances nationally since 2009 have had more to do with consumers paying down their card balances than from card issuers charging off delinquent card accounts.

That is the central conclusion of an analysis that TransUnion, one of the three large credit bureaus, conducted of consumer debt data collected by the Federal Reserve. The conventional wisdom among many card analysts was that charge-offs, not changes in consumer behavior, had been behind the national balance decline.

Dig Deeper

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.