While credit card balances edged down in the first quarter, more borrowers still fell behind on their card payments, the Federal Reserve Bank of New York found.
A growing number of Americans are maxed out on their credit cards. Nearly one-fifth of credit card borrowers were using at least 90% of their available credit in the first quarter of 2024.
The report assumes significance as the Reserve Bank of India has been contemplating on setting up a fraud registry to check rising incidents of fraud in the banking sector.(AP) Fraudulent credit ...