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Source: Shutterstock.Credit card spending resumed its decline for the week ending Aug. 30, while debit card spending grew at half the rate of the previous week, according to a PSCU report released Tuesday.
The St. Petersburg, Fla.-based payments CUSO’s Transaction Trends Update showed spending by credit cards was 2.5% lower than a year earlier, while debit card spending rose 9.4%.
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Loan sales have risen since the pandemic’s start as buyers seek to redeploy their savings.
Origence reports its credit union clients are outperforming the nation’s top lenders.
CU trades and others fear the coin shortage can hurt those who rely on cash.
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