Near-record levels of credit card debt help bolster banking industry

Source: Renae Merle, Washington Post (Paid Registration)

Americans have accumulated near-record levels of credit card debt over the past year as card companies have increased interest rates and fees.

The booming market is helping drive record banking industry profits but could become increasingly costly for consumers who don’t pay off their bill every month or miss a payment, industry experts say.

Read Full Article: Near-record levels of credit card debt help bolster banking industry

 

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