CFPB Releases Study on Consumer Credit Card Behavior
The Consumer Financial Protection Bureau’s Office of Research has released a study on consumer credit card payment behavior. The study examines whether consumer pay off their balances monthly, retain a balance from one month to the next, keep an inactive credit card, or transition between any of the aforementioned states. The study breaks down the information by credit score band and geographically.
In reviewing the behavior of consumer with respect to their credit card debt, the study overlooks the benefits that consumers derive from traditional installment loans for debt consolidation. Such loans can help consumer completely pay off credit card or other debt in a stable and predictable manner.
July 8th, 2019
Get The News You Need
Sign up for our daily newsletter to receive all the most important industry news and updates every weekday morning.
Recent Posts
- The State of Our Customer: What the Data Actually Shows
- Reading the Room: Inside the Voters’ Minds on the Economy and the Midterms
- AFSA Webinar | The Agentic Trap: When AI Helps the Payment Experience—and When It Gets in the Way
- CFPB Nom Moves On
- Rate Cap Still Being Proposed. Still Unhelpful to Consumers