Fed Survey Shows Further Stabilization in Q4 Credit Practices, Demand
Loan demand and standards for lending continued to stabilize in the fourth quarter of 2020 after the economic freefall caused by the COVID-19 pandemic in the second quarter.
Browsing: Auto lending
Closed-End Delinquencies Drop in Q2, Q3 2020
Consumer credit delinquencies declined in eight out of 11 closed-end loan categories in the second and third quarters of 2020 amid significant fiscal support and sound financial management from consumers, according to ABA’s Consumer Credit Delinquency Bulletin released today.
N.Y. Fed: Credit Application, Acceptance Rates Fall During Pandemic
The COVID-19 pandemic had a significant effect on credit markets throughout 2020, with credit application and acceptance rates falling after February, according to the Federal Reserve Bank of New York’s latest Credit Access Survey released today.
Fed Survey: Loan Demand, Standards Begin to Stabilize
Loan demand and standards for lending began to stabilize in the third quarter after demand weakened and standards tightened during the economic freefall of the second quarter.
Fed Survey: Loan Demand Plummets in Second Quarter
As the U.S. economy dove deeper into recession amid the coronavirus pandemic in the second quarter, more than half of banks reported weaker demand for commercial and industrial loans, according to the Federal Reserve’s latest survey of senior loan officers released yesterday.
Groups: Proposed CA Law Could Impair Banks’ COVID-19 Response
A new bill introduced in the California state legislature could limit the ability of lenders to offer flexibility to consumers who are experiencing financial hardships due to the COVID-19 pandemic, ABA and six other housing and finance groups warned in a letter this weekend.
Household Debt Increased Ahead of Coronavirus Outbreak
Outstanding household debt increased by 1.1% in the first quarter of 2020, rising by $155 billion to land at $14.3 trillion, the Federal Reserve Bank of New York reported today.
Fed Survey: Coronavirus Pandemic Weakens Demand for CRE, Consumer Debt
Demand for commercial and industrial loans was mixed in the first quarter, as the COVID-19 outbreak was beginning to strike the U.S. economy, according to the Federal Reserve’s latest survey of senior loan officers today.
CFPB Reports Declines in Credit Inquiries During Coronavirus Pandemic
Credit applications—as measured by the number of credit inquiries—fell significantly in March during the early days of the coronavirus pandemic in the U.S., according to a new report issued by the Consumer Financial Protection Bureau today.
Pentagon Makes ABA-Urged Fix to Military Lending Act Interpretive Rule
The Defense Department today said it is withdrawing a provision in its interpretive rule to the Military Lending Act regulations related to vehicle loans that finance Guaranteed Auto Protection and insurance credit.