Market Research on Credit Cards
The credit card industry is complex and affects other parts of the economy. The Federal Reserve reported that credit cards were used more than 21 billion times to make $1.92 trillion worth of purchases in 2009. Understanding the credit card industry is aided by looking at trusted sources of market data. Credit card research is regularly supplied by government and private agencies.
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Federal Reserve
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The Federal Reserve regularly releases data on consumer credit usage and the payment industry. The Consumer Credit survey is released on the fifth business day of every month and provides a synopsis of credit obligations of households and financial institutions. The Survey of Consumer Finances is done triennially and takes a close look at household credit card usage. The Federal Reserve also regularly releases white papers that express the opinion of staff members on the payment industry.
Federal Deposit Insurance Corporation
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The Federal Deposit Insurance Corporation has the primary responsibility of monitoring the health of the banking system and ensure compliance to federal regulations. It also conducts its own research. Part of its bank examinations program is its Credit Card Activities manual. It has 20 chapters and provides a comprehensive view of the payment industry. The FDIC also releases analysis on and original copies of legislation pertaining to the credit card industry.
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Federal Financial Institutions Examination Council
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The Federal Financial Institutions Examination Council works with other federal agencies to ensure uniform standards for the financial services industry. It creates IT Booklets describe different components of the credit card industry. The booklets cover topics such as payment authorization and settlement, risk mitigation and operational instructions.The Operations, Retail Payment Systems and Wholesale Payments booklets are most relevant to the credit card market. There's also an additional resources section that provides supplementary information to what's covered in the booklets.
Private Firms
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Financial service companies and consulting firms also conduct independent research. The Fiserv Corporation is a payment company that release white papers and research papers on payment trends and preferences. Consulting firms such as the Javelin Group and Forrester Research conduct studies that cover most aspects of the financial services industry. Much of their content must be paid for, but they do release some studies free of charge.
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