Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Late fees have dropped says report
CHICAGO (8/26/11)--Late payments to credit cards are at their lowest level in 17 years; however, one reason late payments have declined is because consumers being more cautious in using their cards, a study indicates. The rate of payments 90 days or more past due dropped to 0.06% during second quarter, compared with 0.92% during second quarter 2010, said TransUnion, a Chicago-based credit reporting agency (CardRatings.com Aug. 25). Economists had forecast that the late payments would decline, but the decline during the quarter was faster than expected, said TransUnion. During the last quarter, the average borrower's debt rose $20--to $4.699 per person.


RSS





print
News Now LiveWire
Registration lottery for #CreditUnion #CherryBlossom Ten Mile Run opens Monday, Dec. 1 http://t.co/AGkKPof5Fy. Race is April 12
7 hours ago
The turkey hasn't even been served and #creditunions are already making plans for #GivingTuesday
8 hours ago
.@bankofamerica's $16.65 billion 'toxic mortgage' settlement finalized http://t.co/BIq1QyImXG
10 hours ago
RT @CUNA: #NussleReport: ICYMI: Revised RBC proposal in January w/a 90-day comment period #Fix RBC http://t.co/T4JcvWBDse
11 hours ago
.@TheNCUA release on Nov. prohibition orders out already. Here: http://t.co/YkA1QIYbYa
11 hours ago