Credit-card debt approaching $1 trillion in U.S.

In what may not come as a shock to some, U.S. credit-card balances are on track to hit $1 trillion this year. That sum would come close to the all-time peak of $1.02 trillion set in July 2008, just before the financial crisis intensified. Consumers are taking on other forms of debt, too. Auto-loan balances surpassed $1 trillion in the first quarter, a record for the industry, according to a report Thursday from credit bureau Experian.