Axios

Americans' credit card balances hit a record $1.29 trillion in the third quarter, according to a new report released by the Federal Reserve Bank of New York.

Why it matters: Falling behind on credit card payments can trap struggling households in a cycle of fees, damaged credit and increasingly expensive borrowing. The latest figures show that financial pain is concentrated in lower-income communities, even as delinquency rates improve nationally.

House Republicans elected Judiciary Chair Jim Jordan (R-Ohio) as their new leader Tuesday, handing the reins of the battered GOP conference to one of its most prominent conservative firebrands.

Why it matters: Jordan's victory marks a major shake-up in House Republican leadership, elevating a founding member of the hardline Freedom Caucus who campaigned as an alternative to the leaders who presided over the GOP's crushing midterm defeat.

Three individuals were charged in connection with alleged Iranian-linked terror plots, including a September scheme against a British Royal Air Force Base that housed U.S. military personnel and aircraft, per an indictment unsealed Tuesday.

The big picture: The indictment alleges that a leader of an Islamic terrorist group attempted to coordinate with his fellow defendants from jail by passing coded messages through third parties.