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
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
8 29 ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
8 29 ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
8 29 ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
8 29 ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
8 29 ago