Credit card at lowest level in 4 years

Borrowing by Americans fell in January for the first time in five months, as the use of credit cards fell to the lowest level in four years, offsetting gains in auto loans and student loans. The Federal Reserve reported Friday that consumer borrowing fell by $1.3 billion in January, the first setback since a $9 billion decline in August. The weakness came from a $9.9 billion decline in borrowing in the category that covers credit cards. It pushed credit card activity down to the lowest level since January 2017. Consumer borrowing is closely watched for indications about Americans’ willingness to take on more debt to finance their spending, which accounts for two-thirds of U.S. economic activity.

Robert J. Foley, age 89 of Stratford, passed away on Tuesday, March 2, 2021 in St. Joseph’s Manor, Trumbull.

Bob was born in Bridgeport to the late Cyril Edward and Gladys (Fant) Foley. He was a proud alumnus of Fairfield Prep class of 1950. He graduated Fairfield University and attended graduate school at NYU. Bob worked for over 25 years at Remington Arms in human resources. He was a devoted parishioner and trustee of Blessed Sacrament Church, Bridgeport.

Bob was predeceased by his brother, John Edward Foley, and is survived by his sisterin-law, Louise Foley; nieces and nephews, Patricia Foley, Michael Foley and his wife, Jean, Timothy Foley and his wife, Sandy and Peter Foley and his wife, Denise; great-nieces and nephews, Taylor McKeegan and her husband, Colin, Jessica, Shelby, Christopher, Jordan, Spencer, Savannah, and Seamus; and great-great-nieces Mae and Adelaide.

A Mass of Christian Burial was celebrated on Friday, March 5, 2021 at 11 at Blessed Sacrament Church officiated by Rev. Skip Karcsinski. Interment was at Gate of Heaven Cemetery. In lieu of flowers, contributions can be made to Fairfield Prep or Blessed Sacrament Church. Visit www.pisteyfuneralhome.com to express condolences online and for donation information.