U.S. Bancorp Card Net Charge-Off Rate Hits 4.2%
USBU.S. Bancorp(USB) PYMNTS·2024-04-18 02:29

U.S. Bancorp said in its latest earnings report that consumers are continuing to boost their credit card loans – and though charge-offs have increased, credit quality has remained strong. Credit card loans in the quarter were $28 billion, adding more than 9% year over year, the parent company of U.S. Bank said Wednesday (April 17). “Credit quality metrics continue to develop in line with our expectations,” CEO Andrew Cecere said, adding that “loan and deposit growth remains under pressure for the industry.” ...