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On of the motives for usury laws is the concern that loans are being made to...

On of the motives for usury laws is the concern that loans are being made to debtors who will not be able to pay them back. The text gives a very brief overview of the credit market in the U.S. One fact: In May 2016, Americans had about _________ in outstanding in credit card debts.

A. $94.6 billion

B. $946 billion

C. $200 million

D. $200 billion

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Answer #1

Option B

As per the cnbc and other searches, the total credit card debt amounts to $978.9 billion with average credit card debt per household is $8377

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