Graph and download economic data for Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBW027SBOG) from 2000-06-28 to 2025-08-20 about revolving, credit cards, loans, consumer, banks, depository institutions, and USA.

Debt Balance Total in the United States increased to 18.39 USD Trillion in the second quarter of 2025 from 18.20 USD Trillion in the first quarter of 2025. This dataset includes a chart with historical data for the United States Debt Balance Total.

Graph and download economic data for Commercial Bank Interest Rate on Credit Card Plans, All Accounts (TERMCBCCALLNS) from Nov 1994 to May 2025 about credit cards, consumer credit, loans, consumer, banks, interest rate, depository institutions, interest, rate, and USA.

The credit card collection service market is estimated to reach $3802.4 million by 2033, exhibiting a CAGR of XX% during the forecast period 2025-2033 (historical period: 2019-2024). Key drivers for this growth include rising consumer debt levels, increasing use of credit cards, and stricter regulations on debt collection. The market is segmented by type (door-to-door collection, telephone collection), application (banks, other credit card issuers), and region (North America, Europe, Asia Pacific, Middle East & Africa, South America). North America is expected to hold the largest market share, while Asia Pacific is poised to register the highest CAGR. Prominent market players include KK Associates, Creditors Collection Service, Inc., Vital Solutions, Inc., AmSher, Holloway Credit Solutions, LLC, Credit & Collection Recovery Service, Inc, Merchants Adjustment Service, DiRecManagement, Inc, Armstrong and Associates, Fidelity Creditor Service, Inc, Optio Solutions LLC, Midland Credit Management, Nationwide Recovery Network Inc, Capital Collections, ARS National Services, AAA Credit Services, Commercial Trade Inc, Your Collection Solution LLC, Cooper Judgment Recovery, LLC, Global Debt Solutions Inc, Debt Collection, Huadao Data Processing (Suzhou) Co., Ltd, Shanghai Yinhua Yinhua Service Outsourcing Co., Ltd, Gaobai (China) Enterprise Management Consulting Co., Ltd, Beijing Huatuo Financial Service Outsourcing Co., Ltd, CBC (Beijing) Credit Management Co., Ltd, Shenzhen Wancheng United Investment Co., Ltd. Strategic initiatives undertaken by these players, such as mergers and acquisitions, partnerships, and new product launches, are expected to further shape the market landscape.

In the first quarter of 2025, roughly **** percent of all consumer loans at commercial banks in the United States were delinquent. The delinquency rate on this type of credit has been rising again since 2021. Loans are delinquent when the borrower does not pay their obligations on time. One of the reasons for the delinquency rate decreasing during the first years of the COVID-19 pandemic was that the personal saving rate in the U.S. soared during that period. What is the trend in consumer credit levels in the United States? Consumer credit refers to the various types of loans and credit extended to individuals for personal use, often to fund everyday purchases or larger expenses. When credit levels rise, it often signals that consumers are more confident in their ability to manage debt and make future payments. After a period of strong growth between 2021 and early 2023, consumer credit in the United States has been growing at a slower pace. By early 2024, consumer credit levels reached over **** trillion U.S. dollars. What is the main channel for acquiring consumer credit? In 2024, the leading type of consumer credit among consumers in the U.S. was credit card bills. Credit card usage in the North American country was substantial and credit card penetration was expected to reach over **** percent by 2029. Car loans ranked next as a common source of consumer credit, while other types of debt, such as medical bills, home equity lines of credit, and personal educational loans, had lower percentages.

Graph and download economic data for Revolving Consumer Credit Owned and Securitized (REVOLSL) from Jan 1968 to May 2025 about securitized, owned, revolving, consumer credit, loans, consumer, and USA.

Graph and download economic data for Personal Saving Rate (PSAVERT) from Jan 1959 to Jul 2025 about savings, personal, rate, and USA.

The Volcker Shock was a period of historically high interest rates precipitated by Federal Reserve Chairperson Paul Volcker's decision to raise the central bank's key interest rate, the Fed funds effective rate, during the first three years of his term. Volcker was appointed chairperson of the Fed in August 1979 by President Jimmy Carter, as replacement for William Miller, who Carter had made his treasury secretary. Volcker was one of the most hawkish (supportive of tighter monetary policy to stem inflation) members of the Federal Reserve's committee, and quickly set about changing the course of monetary policy in the U.S. in order to quell inflation. The Volcker Shock is remembered for bringing an end to over a decade of high inflation in the United States, prompting a deep recession and high unemployment, and for spurring on debt defaults among developing countries in Latin America who had borrowed in U.S. dollars.

Monetary tightening and the recessions of the early '80s

Beginning in October 1979, Volcker's Fed tightened monetary policy by raising interest rates. This decision had the effect of depressing demand and slowing down the U.S. economy, as credit became more expensive for households and businesses. The Fed funds rate, the key overnight rate at which banks lend their excess reserves to each other, rose as high as 17.6 percent in early 1980. The rate was allowed to fall back below 10 percent following this first peak, however, due to worries that inflation was not falling fast enough, a second cycle of monetary tightening was embarked upon starting in August of 1980. The rate would reach its all-time peak in June of 1981, at 19.1 percent. The second recession sparked by these hikes was far deeper than the 1980 recession, with unemployment peaking at 10.8 percent in December 1980, the highest level since The Great Depression. This recession would drive inflation to a low point during Volcker's terms of 2.5 percent in August 1983.

The legacy of the Volcker Shock

By the end of Volcker's terms as Fed Chair, inflation was at a manageable rate of around four percent, while unemployment had fallen under six percent, as the economy grew and business confidence returned. While supporters of Volcker's actions point to these numbers as proof of the efficacy of his actions, critics have claimed that there were less harmful ways that inflation could have been brought under control. The recessions of the early 1980s are cited as accelerating deindustrialization in the U.S., as manufacturing jobs lost in 'rust belt' states such as Michigan, Ohio, and Pennsylvania never returned during the years of recovery. The Volcker Shock was also a driving factor behind the Latin American debt crises of the 1980s, as governments in the region defaulted on debts which they had incurred in U.S. dollars. Debates about the validity of using interest rate hikes to get inflation under control have recently re-emerged due to the inflationary pressures facing the U.S. following the Coronavirus pandemic and the Federal Reserve's subsequent decision to embark on a course of monetary tightening.

Graph and download economic data for Moody's Seasoned Baa Corporate Bond Yield (BAA) from Jan 1919 to Jul 2025 about Baa, bonds, yield, corporate, interest rate, interest, rate, and USA.

Graph and download economic data for ICE BofA US Corporate Index Option-Adjusted Spread (BAMLC0A0CM) from 1996-12-31 to 2025-08-28 about option-adjusted spread, corporate, and USA.