Americans can't keep up with their credit card bills right now [Yahoo! Finance]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Yahoo! Finance
And close to 1 in 10 credit card balances and 1 in 12 auto loans became delinquent, according to the Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York, released this week. “In the first quarter of 2024, credit card and auto loan transition rates into serious delinquency continued to rise across all age groups,” said Joelle Scally, Regional Economic Principal within the Household and Public Policy Research Division at the New York Fed, in a statement . “An increasing number of borrowers missed credit card payments, revealing worsening financial distress among some households.” Mortgage balances also rose $190 billion from the previous quarter, reaching $12.44 trillion at the end of March. Per the advisory, “Balances on home equity lines of credit (HELOC) increased by $16 billion, representing the eighth consecutive quarterly increase since Q1 2022, and now stand at $376 billion. Credit card balances decreased by $14 billion to $1.12 trillion.
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News
- The average American is now feeling financially well [Yahoo! Finance]Yahoo! Finance
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- Higher Coupon Payments Keeping Demand for Credit High, BofA Says [Yahoo! Finance]Yahoo! Finance
- Home equity is near a record high. Tapping it may be tricky due to high interest rate [CNBC]CNBC
BAC
Earnings
- 4/16/24 - Beat
BAC
Sec Filings
- 6/10/24 - Form 424B2
- 6/10/24 - Form 424B2
- 6/10/24 - Form 424B2
- BAC's page on the SEC website