British Consumer Credit Card Debt Continues to Accelerate 9%+ Year-on-Year

U.K. consumer credit continued to expand at a brisk pace in November, topping 10% year-on-year (YOY). In November total consumer credit grew to £192.2 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 11.4% and 10.8% respectively. The Bank of England (BOE) reports consumer credit increased by £1.9 billion in November, in…

Australia Credit Card Outstandings Up Single Digits in Oct – CardData.com

Australian credit card outstandings rose by 1.6% year-on-year (YOY) in October. Credit card credit limits increased 2.3% YOY and the number of credit card accounts rose 2.6% YOY in October. The average balance per account in October declined 1.0% YOY to AU$3070, compared to AU$3074 for September, and AU$3102 for October 2015.

Credit card outstandings for…

Nationwide Continues Blistering Battle with CFPB Operation Choke Point Litigation

Nationwide Biweekly Administration (Nationwide) has been allowed to move forward with its Operation Choke Point claims against the Consumer Financial Protection Bureau (CFPB). Operation Choke Point is a U. S. Department of Justice initiative meant to block access to payment systems by targeted businesses and shut them down without a court order. In an order…

Top 4 U.S. Credit Card Issuer Outstandings Up 9.1% YOY – CardData.com

U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S. issuers gained 9.1% in the third quarter (3Q/16) year-on-year (YOY) to $394.5 billion.  The gain was driven largely by Citibank as its acquisition of the Costco card portfolio from American Express has skyrocketed outstandings. BofA was unseated as the nation’s second largest in the second…

New Tool Monitors Consumer Lending to Forecast Potential Future Risks

The Consumer Financial Protection Bureau (CFPB) has introduced Consumer Credit Trends, a web-based tool to help the public monitor developments in consumer lending and forecast potential future risks. The beta version of the tool covers the mortgage, credit card, auto loan, and student loan markets. The first Consumer Credit Trends release shows a sharp uptick…