Fidelis Capital: US Consumer Spending Outpaces Lending Growth in Q3

By Public Technologies
  • Fidelis Capital's October 23 analysis found resilient US consumer spending outpaced lending in the third quarter of 2026.
  • Spending growth of 8%-13% suggested purchases were income-funded rather than credit-funded, citing Morningstar data.
  • Average card loans grew 5% at Bank of America versus 7% at JPMorgan.
  • Citi's general-purpose card loan portfolio grew 9%, compared with 5% growth in average card loans at Wells Fargo.
  • Banks flagged interest-rate uncertainty heading into year-end; Fidelis highlighted relatively unchanged equity markets amid rising rates.


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