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June 2019 Archives

Young Americans are falling into the credit card debt trap

Young people in Maryland and elsewhere around the country are having difficulties keeping up with their credit card bills, according to a recent New York Federal Reserve report. The central bank's Quarterly Report on Household Debt and Credit for the first quarter of 2019 reveals that almost 1 in 10 millennial and generation Z borrowers have not made credit card payments for 90 days or more. This is the highest delinquency rate among young borrowers in eight years.

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