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
Recent Posts
- AFSA Webinar | Using Effective Digital Engagement to Cut Call Volume, Increase Self-Service & Get Paid Faster
- AFSA Expresses Concerns with Oregon’s Medical Debt Bill
- Improved Q1 Business Conditions
- Industry Expertise | The Future of Dealer Commercial Lending: Transforming Challenges into Growth
- Industry Expertise | Build vs. Buy: Making the Right Customer Portal Decision