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Credit card debt climbs to $1.26 trillion as ‘K-shaped’ divide persists, New York Fed research finds

Credit card debt reached $1.26 trillion in the first quarter of 2024, according to research from the Federal Reserve Bank of New York. This increase occurs amid a widening economic disparity known as a "K-shaped" recovery.

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Tuesday, August 11, 2026 at 11:08 AM EDT

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