| October 26, 2010

Federal Reserve release new credit report

The October credit report from the U.S. Federal Reserve Board’s Beige Book cites sluggish lending on behalf of consumers, among the changes in the banking and finance industry.

The report said lending activity remained stable at low levels across most Districts; however, in Richmond, Virginia, and Dallas, Texas, there was a noted increase in lending activity.

Several important figures remained stagnant at low levels. Demand for commercial and industrial loans remained weak during this time. The report cited the postponing of spending plans and economic uncertainties as reasons for the continued lack of demand.

Among the notable increases was a rise in competition for quality loans over the Fed’s previous September report, an increase the board found was due to the current tight loan standards. There was sporadic growth in auto loans and nonconforming mortgage loans, as well as increases in residential mortgage lending and refinancing, in several districts.

New York reported a decrease in delinquency rates on consumer loans, backing up recent reports that more Americans have been paying off credit card debts.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

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Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

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