Bank of America: Consumers Still Have Borrowing Power Left on Their Credit Cards
BACBank of America(BAC) PYMNTS.com·2024-07-17 02:42

For Bank of America, digital channels have represented avenues of continued growth, making inroads with credit card spending in particular.According to management, there’s still room left for consumers to keep spending on those cards.The company said in a second-quarter 2024 earnings release that 53% of its consumer sales were made through digital channels in the quarter, up from 51%.The average deposits in the period stood at $949 billion, down 6% from a year ago, supplemental materials revealed. The compa ...