NY Fed: Consumer debt up in Q2
Credit card balances rose $10 billion in the second quarter, the Federal Reserve Bank of New York said in its latest quarterly "Household Debt and Credit Report" released Thursday. Debt on cards continues to lag behind auto loans and student loans.
Delinquent balances for consumer loans fell in the second quarter. Balances on credit cards more than 90 days overdue were 7.8 percent of total balances, down from 8.5 percent in the first quarter.
The New York Fed's Household Debt and Credit Report is based on a sample of anonymous Equifax credit reports, selected to be representative of U.S. households.
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