AGP Executive Report
Last update: 7 hours agoCredit Cards: UK balances hit a record £2,005 in August as repayments weakened and missed payments rose. In Malaysia, Bank Muamalat launched a Sharia-compliant card with a 14% annual profit rate, no annual fee and non-compounding charges. Savings: Judo Bank raised its savings rate to 5.60% for balances up to A$250,000, with a monthly deposit of A$300 required to earn the bonus rate. Banking Access: A Google Cloud outage disrupted services at several UK banks, leaving some customers unable to use apps or make payments; banks advised checking official status updates and alternative channels. Borrowing Costs: US home contract signings fell 7.3% in September as mortgage rates climbed toward 7.5%. Fed minutes also signalled another rate rise could be likely by year-end, putting pressure on variable-rate card debt and adjustable mortgages. Debt Pressure: Bankruptcy filings are rising in Pennsylvania and nationally, with attorneys pointing to living costs, credit card bills and loan payments.
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