CFPB report flags pandemic-related issues in deposits, mortgage servicing
The CFPB issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products.
Browsing: Auto lending
Report: Auto loan amounts rise as vehicle costs soar
The average auto loan for a new vehicle in the U.S. rose to $40,290 in the second quarter of 2022, a 13.2% increase from the same period the previous year, the credit monitoring firm Experian reported today.
Household debt rises amid growth in credit card debt
Total household debt increased 2% in the second quarter of 2022, rising by $312 billion to land at $16.65 trillion, the Federal Reserve Bank of New York reported today.
Fed Survey: Business Leading Standards Tighten, Demand Grows Stronger
Lending standards for business loans tightened during the second quarter of 2022, according to the Federal Reserve’s senior loan officer opinion survey released today.
Household debt ticks up slightly in Q1
Total household debt increased by 1.7% to $15.84 trillion in the first quarter of this year, the Federal Reserve Bank of New York reported.
Fed survey: business lending standards largely unchanged amid rising demand
Lending standards for business loans remained largely unchanged in the first quarter of 2022, according to the Federal Reserve’s senior loan officer opinion survey released today.
CFPB report flags auto servicing, consumer reporting issues
The CFPB issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products.
ABA Data Bank: Used car index shows largest monthly decline in 23 months
The Manheim Used Vehicle Value Index decreased 7.8 points in March to 223.5, the biggest drop in used car prices since April 2020.
CFPB Issues Compliance Bulletin on Auto Repossessions
In a compliance bulletin issued today, the CFPB signaled that it will hold auto loan holders and servicers “accountable for [unfair, deceptive or abusive acts and practices] related to the repossession of consumers’ vehicles.”
CFPB Zeroes in on Auto Lending Market
In a new blog post today, the CFPB signaled that it intends to increase its focus on the auto lending market.