Americans cut back on credit cards for 3rd month

WASHINGTON — Americans cut back on using their credit cards in August for a third straight month, a sign that consumers remain cautious about spending.

The Federal Reserve says that consumers increased their borrowing $13.6 billion in August to a record high of $3.04 trillion. That followed a gain of $10.4 billion in July.

But once again the gain was driven entirely by auto and student loans. A measure of that debt rose $14.5 billion to $2.19 trillion. Credit card debt dropped $883.4 million to roughly $850 billion.

More in Herald Business Journal

Snohomish inventor makes changing beds magical

He hopes to make his big push in the hotel industry, where injuries to housekeepers are increasing.

Boeing planes designed for Alaska to make final flights

The special Boeing 737-400s carry cargo in the middle of the plane and 72 passengers in the rear.

Boeing creates a Renton office to oversee its new airplane

Experts expect the company to make a formal 797 launch decision no later than next year.

Equifax dumps its CEO after the damaging data breach

Many applauded Equifax’s handling of the problem, but management was under fire for lax security.

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