Consumer borrowing declined again in August

While credit card delinquencies dropped in August, banks opted not to collect about $42.5 billion in outstanding debt during the first half of the year, according to a report released by CardHub.com, based on data from the Fed and Fitch Ratings.

The charge-off rate eclipsed 10 percent through the first six months of the year, the highest level on the Fed's records going back to 1985. 

The delinquency rate is the lowest since the third quarter of 2008.