Money

For the first time since 2002 consumer credit in Canada is rising more slowly than in the U.S. TORONTO , May 9, 2012 /CNW/ – Canadians are putting the brakes on spending with outstanding consumer credit now rising at the slowest pace since the early 1990′s, finds a new report from CIBC World Markets.”Regardless of how you measure it, there is a clear slowing trend in the pace of growth in    .. more …

By Glenn SomervilleWASHINGTON (Reuters) – Consumers went back to using their credit cards in March to keep spending while student and new-car loans shot up as the value of outstanding consumer credit jumped at the fastest rate since late 2001, data from the Federal Reserve showed on Monday.Total consumer credit grew by $21.36 billion – more than twice the $9.8 billion rise that Wall Street    .. more …

Consumer credit card balances surged in March, according to new data from the Federal Reserve , breaking a two-month streak of declines and helping boost overall consumer credit balances by 10.2 percent — the single biggest increase in more than a decade. The Federal Reserve’s latest G.19 consumer credit report showed a strong 7.8 percent rise in revolving debt as more consumers pulled out their    .. more …

UPDATE: Consumer credit increased by $8.7 billion in February to $2.522 trillion , missing economist expectations for a $12 billion gain, new data out of the Federal Reserve shows .Although that represents the highest reading in nearly three years, it was the slowest pace of expansion since October. Revolving credit , which includes credit card debt , declined 3.3 percent during the month.    .. more …

Agency’s Mobile Education Outreach and E-Learning Initiatives Will Benefit from Grant AwardRiverside, CA (PRWEB) April 25, 2012 “We’re very happy to be selected as a recipient of this grant award,” said Melinda Opperman, Springboard’s senior vice president. “The grant will help further Springboard’s mission to deliver personal finance education and individual counseling on the full spectrum of    .. more …

Non-profit consumer debt counseling agency to showcase bankruptcy counseling and financial management services at national convention in San Antonio.(PRWEB) April 17, 2012 The non-profit consumer debt counseling agency – based in Newton, Mass. – will staff an exhibit booth with members of ACCC’s bankruptcy counseling team and provide discounted access to bankruptcy courses for the    .. more …

NEW YORK, April 17, 2012 /PRNewswire/ — Data through March 2012, released today by SP Indices and Experian for the SP/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults showed that, with the exception of bank card, all loan types saw a decrease in default rates for the third consecutive month. In addition, the four that did decrease posted    .. more …

Consumer credit card balances fell for the second straight month, according to data released Friday by the Federal Reserve. However, it’s unclear whether consumers are still paying down their holiday debt or are cutting back on spending with credit. The Federal Reserve’s latest G.19 consumer credit report showed a3.3 percent drop in revolving debt as cardholders shied away from racking up more    .. more …

TORONTO , April 4, 2012 /CNW/ – Canadian households are saddled with unprecedented amounts of debt through bank loans, credit cards and lines of credit, according to a report released today by the C.D. Howe Institute. In The Rise in Consumer Credit and Bankruptcy: Cause for Concern? , author James MacGee finds that debt levels associated with consumer credit are higher than at any point in recent    .. more …

CHICAGO, March 21, 2012 /PRNewswire/ — Old Republic International Corporation (NYSE: ORI – News ) today announced it is combining its Consumer Credit Indemnity (CCI) division with its Mortgage Guaranty (MI) segment. The two operations offer similar insurance coverages, share the same senior management leadership, and have been operating in run-off mode since 2008 and August 2011, respectively.    .. more …