Consumer borrowing plunges by $15.7 billion in April, second largest amount on record

WASHINGTON — Borrowing by consumers fell by $15.7 billion in April as U.S. households continued to trim spending and put away their credit cards amid a severe recession.

Consumer borrowing falls in March at fastest pace in over 18 years, Americans saving more

WASHINGTON — Consumer borrowing plunged in March at the fastest pace in 18 years as Americans put away their credit cards and hoarded cash amid the worst recession in decades.