TITLE

Revolving Credit In May Declines For 20th Consecutive Month

AUTHOR(S)
Fitzgerald, Kate
PUB. DATE
July 2010
SOURCE
CardLine;7/16/2010, Vol. 10 Issue 28, p23
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the Federal Reserve G.19 report on consumer credit. The report states that revolving credit in the U.S., 98% of which is credit card debt, in May fell 0.9%, to 830.8 billion dollar from a revised total of 838.2 billion dollar in April. It has been stated that consumers have eliminated nearly 127.3 billion dollar in credit card debt since the end of 2008 and it is a record 20th consecutive month of shrinking U.S. consumer credit.
ACCESSION #
52382541

 

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