The CFPB released their fourth biennial report entitled “The Consumer Credit Card Market” on the state of the credit card market for the period 2017-2018.

Some of the findings in the 193-page Report include:

•Total outstanding credit card balances have continued their increase and at year-end 2018 were nominally above pre-recession levels.
•Revolving account total cost of credit has increased over the last two years, and in 2018 stood at 18.7 percent, which is the highest overall level observed in the Bureau’s biennial reports.
•The use of new technologies through digital portals, including those accessed on mobile devices, has enhanced cardholder interactions with and control over their credit cards.


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