Concerns Arise As Increasing Numbers of Americans Take on More Debt

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U.S. consumers now owe roughly $12.73 trillion to banks and other lenders for mortgages, car loans and credit card spending, according to the New York Federal Reserve. Economists generally say people’s willingness to borrow is a good thing, because it shows they’re more confident about their financial futures. The stress points now are in three main categories: auto loans, credit cards and — to a greater extent but for different reasons — student loans.

As Americans take on more debt, some pockets of concern | Star Tribune

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