Data from the Federal Reserve Bank of New York indicates a growing number of Americans are falling behind on credit card payments, despite a slight decrease in credit card balances in the first quarter of the year. The report highlights rising debt levels and increasing financial stress among borrowers, with record household debt and a jump in delinquencies signaling worsening financial distress. Specific concerns include late payments among the 18-29 age group reaching levels similar to those before the Great Recession, with nearly 10% of credit card balances nearly 90 days late for Zoomers and older millennials.