Key Points
- Bank of America’s consumers continue to devote freely, applying their credit history cards and other payment strategies for 10% much more transaction volume in September and the very first half of October than a year before, CEO Brian Moynihan said.
- Customers’ account balances continue to be greater than before the coronavirus pandemic struck in early 2020, Moynihan explained, indicating that they had been in a excellent posture to carry on paying out.
- Last but not least, purchaser credit rating continues to be pristine, with late-payment metrics however well below pre-2020 averages, indicating that so significantly, consumers have experienced tiny issues keeping up with their financial debt.
