WASHINGTON - Americans borrowed more money in June than during any month in nearly four years, relying on their credit cards and loans during a difficult economic stretch.
The Federal Reserve says consumers increased their borrowing by $15.5 billion in June. That's the largest one-month gain since August 2007 and three times the amount borrowed in May.
A category that measures credit card use increased by $5.2 billion. It was only the third increase since September 2008, during the height of the financial crisis. A category that includes auto loans rose by $10.3 billion.