second-quarter card loan growth

Second-Quarter Card Loan Growth Falls Off the Cliff +3% YOY

Second-quarter card loan growth, among the Top 4 U.S. issuers, grew a paltry 2.6% year-on-year (YOY), compared to 3.4% YOY in the prior quarter, and compared to 4.8% YOY one-year ago. Among the nation’s Top 4 credit card issuers (Chase [JPM], Capital One [COF], Bank of America [BAC], and Citibank [C]), the annual growth rate…