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Household debt at all time high, but banking industry says it’s making prudent decisions

‘We lend money to people who will pay it back. That’s Banking 101,’ says Canadian Bankers Association president Terry Campbell.

By CHRIS PLECASH |
Published: Friday, 08/17/2012 12:00 am EDT

Low credit default rates reflect industry and consumer prudence, says the Canadian Bankers Association, but the federal government continues to urge consumers to curb borrowing as household indebtedness reaches all-time highs.

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Household debt at all time high, but banking industry says it’s making prudent decisions

‘We lend money to people who will pay it back. That’s Banking 101,’ says Canadian Bankers Association president Terry Campbell.

By CHRIS PLECASH | Aug. 17, 2012

Low credit default rates reflect industry and consumer prudence, says the Canadian Bankers Association, but the federal government continues to urge consumers to curb borrowing as household indebtedness reaches all-time highs.

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