Credit card debt rose sharply from September to October forcredit unions and other lenders, while car loans and other termloans advanced more slowly.
The Federal Reserve Bank's Consumer Credit report releasedThursday showed revolving loans to consumers rose 0.77% from Sept.30 to Oct. 31, the biggest September-to-October gain since carddebt rose 1.17% in 2000.
Meanwhile, credit unions' continued strength in automotive lending has allowed the movement tocontinue to build a share of the total consumer credit market ithasn't seen the last quarter of the 20th century.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
