Community Banks Excel at Credit Cards Too
Do you know what U.S. bank has the highest dollar volume of domestic credit card loans on its books? If you said 4-Star rated CitiBank N.A., SD then you’re right. Based on June 30, 2018 financial data CitiBank has $129 billion in credit card loans, followed by…
Community Banks Tops for Consumer Loans
According to the FDIC’s Quarterly Banking Profile (QBP) for June 30, 2018, bank industry loans to consumers increased nearly five and half percent from June 30, 2017 to June 30, 2018. Credit card loans, a subset of those consumer loans, increased 7.4% during the same time frame. For the most part, consumers are managing credit card debt well.
CD and Savings Rates are Heading Up
The Federal Reserve raised the target Fed Funds rate another quarter point at its Open Market Committee meeting on Wednesday. As always, banks began raising their lending rates immediately and, as always, CD rates will follow. In fact, they’ve already begun.