ABA: Report Shows Consumer Delinquencies Rose in Fourth Quarter of 2020
After two consecutive quarters of declines, consumer credit delinquencies rose in the fourth quarter of 2020 as the toll of the pandemic-induced recession weighed on the economy, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in each of the 11 loan categories tracked by ABA. The composite ratio,…
ABA: New York Teen Named Grand Prize Winner of National “Lights, Camera, Save!” Video Contest
Leonardo Cross, an 18-year-old student at High School of Art and Design in New York is the national winner of the American Bankers Association Foundation’s Lights, Camera, Save! video contest. Lights, Camera, Save!, which launched in 2010, is a unique national competition that encourages teens ages 13 to 18 to use video to communicate the…
ABA: New Report Shows Credit Market Conditions Improve Sharply for Consumers and Businesses
The chief economists from North America’s largest banks anticipate substantial improvement in both consumer and business credit market conditions over the next six months, according to a new report from the American Bankers Association. The Q2 2021 ABA Credit Conditions Outlook highlights the results of the ABA Credit Conditions Index. The report summarizes a suite of indices…
ABA: National Survey Shows Americans Remain Highly Satisfied with Their Bank, Value Banks’ Support During Pandemic
A year into the onset of COVID-19 in the U.S., consumers are happy with their bank and value the banking industry’s support throughout the pandemic, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The survey found that 9 in 10 Americans with a bank account (86%) say…
ABA: Radio Advertising Campaign Encouraging Small Businesses to Apply for PPP Loans Launched
The American Bankers Association has launched a radio advertising campaign airing on 60 stations in 14 states and the District of Columbia encouraging small businesses that still need help weathering the pandemic to reach out to local banks and apply for a forgivable Paycheck Protection Program loan. The ads, which begin airing today in select markets, specifically…
ABA: Report Shows Credit Card Spending Rebound in Third Quarter of 2020 as Record Number of Consumers Pay Balance in Full
Despite persistent challenges from the pandemic-induced recession, the credit card market continues to show resilience, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. Monthly purchase volumes rebounded strongly across risk groups in the third quarter of last year even as the ratio of credit card credit outstanding as a share of…
ABA: Foundation Launches 2021 Financial Education Campaign, Unveils New Free Resources for Banks
New materials will help banker volunteers lead virtual and in-person lesson plans for their communities The American Bankers Association Foundation today launched its 2021 financial education campaign and called on America’s banks and their more than two million employees across the nation to participate in this innovative, industry-wide effort to promote consumer financial readiness. This…
ABA: Report Shows Credit Market Conditions Rebound for Consumers and Businesses
The chief economists of North America’s largest banks see improvement in business and consumer credit market conditions over the next six months, according to a new quarterly report from the American Bankers Association. The Q1 2021 ABA Credit Conditions Outlook highlights the results of the ABA Credit Conditions Index. The report represents a suite of indices…
ABA: Banks Accepting Entries for ABA Foundation’s Annual Lights, Camera, Save! Teen Video Contest
Banks across the nation are now accepting entries for the American Bankers Association Foundation’s 11th annual Lights, Camera, Save! video contest. The national contest encourages teens ages 13-18 to get creative and educate their peers on the benefits of sound money management. Winners are eligible for cash prizes up to $5,000. Teen contestants will create up to…
ABA: Bank Economists See Strengthening Economic Recovery Ahead
The U.S economy will grow at a robust pace of about 4% over the four quarters of 2021, the strongest growth in nearly two decades after the deepest recession since the Great Depression, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee. However, the economy remains in the grip of the…