JPMorgan Sees Strong Card Spend Despite ‘Weakness' From Lower-Income Consumers

JPMorgan’s latest results, released Friday (July 12), showed that consumers continued to use their cards in full force, for both debit and credit payments.And though there are pockets of weakness in spending from lower income cohorts, according to management, spending trends are still strong — and there remain opportunities to grow presence in the card market.The second-quarter results and supplementals from the company indicated that credit card loans were up 13% year on year to $216 billion, up 5% from th ...