Fed report on credit card operations profitability

The Federal Reserve Board has submitted its July 2021 Report to the Congress on the Profitability of Credit Card Operations of Depository Institutions, which analyzes the profitability over time of depository institutions' credit card activities by examining the performance of larger institutions that specialize in such activities and of a sample of smaller commercial banks that offer a range of credit services. The report also reviews trends in credit card pricing, including changes in interest rates.

The report is mandated by section 8 of the Fair Credit and Charge Card Disclosure Act of 1988. The analysis in the report is based largely on information from the Call Reports and quarterly reports of credit card plans on from FR 2835a. The July 2021 report is based on reported data through December 31, 2020.