Photo: Pedestrians on Wall Street Pedestrians walk along Wall Street near the New York Stock Exchange (NYSE) in New York on October 5, 2018. Photographer: Michael Nagle/Bloomberg

It’s difficult to see signs of a recession lurking in Bank of America Corp.’s numbers.

The company was the latest on Wall Street to offer a largely rosy assessment of the U.S. consumer. Spending on BofA’s credit cards jumped 13 percent in the third quarter from a year earlier, as consumers spent more on travel and entertainment. Less-affluent consumers are still sitting on savings five times what they were before the pandemic. And the number of cars the bank repossesses in any given month has been cut in half.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.