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US credit card debt hits $1.26tn, approaching last year's record high
US credit card debt climbed to $1.26 trillion in the second quarter, approaching last year's record of $1.28 trillion, according to a Federal Reserve Bank of New York report. The balance rose by $54 billion compared with the same period last year, even as mortgage and student loan balances saw small declines. The figures signal growing financial pressure on American households covering day-to-day expenses.
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