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Federal Reserve Reports Dramatic Drop in Revolving Credit in Feb.

Tags » Consumer Debt, Credit Card Debt Counseling, Financial Regulators » Comments (0)

The latest G.19 Consumer Credit data for February 2009 released yesterday by the Federal Reserve shows a dramatic decline in revolving credit - declining at an annual rate of 9-3/4 percent for the month. Overall, consumer credit decreased at an annual rate of 3-1/2 percent in February 2009 and nonrevolving credit increased at an annual rate of 1/4 percent.

Posted: Apr 8, 2009 04:09 AM Pacific | Permalink | |

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