Web Exclusive: Toyota issues second recall - KYTX CBS 19 Tyler Longview News Weather Sports

Web Exclusive: Toyota issues second recall

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(CBS) - Toyota is recalling the same vehicles it recalled last August.  More than 880,000 thousand RAV-4 SUV's and Lexus HS 250H sedans have been recalled for the second time.

Toyota says the rear suspension arm could rust and separate from the vehicle. Safety officials say at least 9 crashes and 3 injuries related to the problem have been reported.
 
Americans are cutting back. For the second straight month, they scaled back on the use of credit cards in July, but they did take on more debt to buy cars and take out student loans.
The federal reserve says consumers increased their borrowing by nearly 10 and a half billion dollars to a record 2.85 trillion dollars in July. Experts say the drop in credit card use suggests consumers remain cautious about spending.
  
Bank of America is scaling back on home lending and cutting more than two thousand jobs. 
The North Carolina-based firm is also closing 16 offices by the end of next month. The lender says rising interest rates have reduced consumer demand for mortgages and refinancings. 
 
American Airlines has good news for shareholders. Passenger traffic is up compared to last summer.  The air carrier says passenger revenue for every seat flown one mile, rose 3% compared with August 2012. 

 

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