Oct 17, 2019
Consumer lending is a bright spot for big banks
Even as retail sales growth is showing signs of stalling, consumers are continuing to borrow.
The JP Morgan Chase headquarters in Manhattan.
Spencer Platt/Getty Images
Big banks have been reporting quarterly earnings this week, and consumer lending is emerging as a bright spot last quarter. Bank of America, JP Morgan Chase and Citibank all reported that they’re earning more from their consumer loans, which include personal loans and credit card borrowing.
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