BOFA: LOWER-INCOME SPENDING OUTPACES HIGHER-INCOME Bank of America says lower-income households are now posting slightly stronger card spend
BOFA: LOWER-INCOME SPENDING OUTPACES HIGHER-INCOME Bank of America says lower-income households are now posting slightly stronger card spending growth than higher-income households, ending the K-shaped spending trend. The shift was driven by stronger labor income, lower fuel costs, and favorable year-over-year comparis