Credit

Adam Gault/Getty Images (NEW YORK) — U.S. credit card debt has soared over the last couple of years and recently it reached a major milestone. Americans’ combined credit card balances topped $1 trillion dollars last year, according to the Federal Reserve Bank of New York. By comparison, combined credit card balances were $680 billion a […]

Adam Gault/Getty Images (NEW YORK) — Credit card debt climbed to a record high in the third quarter of 2023, surging nearly 5% from the previous quarter and leaving a growing share of borrowers late on payments, a Federal Reserve report this week showed. The report demonstrates the dwindling savings held by some consumers who […]

Javier Ghersi/Getty Images (NEW YORK) — Bank stocks in the U.S. and Europe tumbled on Wednesday as the global financial system continued to reckon with the Silicon Valley Bank collapse, the largest bank failure since 2008. Shares of Credit Suisse fell more than 26% in early trading after a top backer said he would not […]

Adam Gault/Getty Images (NEW YORK) — U.S. consumer credit card debt has jumped to nearly $1 trillion, the Federal Reserve Bank of New York said on Thursday. Credit card balances increased more than $60 billion over the three months ending in December, lifting the total amount of U.S. credit card debt to an all-time high […]