New York Fed: Credit demand held steady but rejection rates rose in 2024
Credit demand remained stable in 2024 but consumers reported higher rejection rates and said they are less likely to apply ...
Tag: Auto lending
CFPB: Auto finance loan terms, third-party products may violate law
CFPB released a report on its findings about allegedly illegal practices in auto finance, such as deceptive advertising about loan ...
Trade groups seek congressional oversight for auto lending data collection effort
ABA and four other trade associations wrote to lawmakers raising concerns about the CFPB’s plans to gather data from automobile ...
ABA, associations tell CFPB to drop auto lender data collection plans
ABA and four associations this week urged the CFPB to abandon plans to gather data from automobile lenders about their ...
NY Fed: Household debt ticks up to at $17.29 trillion in Q3
Total household debt increased by $228 billion, or 1.3%, to $17.29 trillion in the third quarter of 2023, according to ...
CFPB seeks data from large auto lenders
The Consumer Financial Protection Bureau this week ordered nine large auto lenders to provide data on their auto lending portfolios, ...
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.
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, ...
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, ...
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 ...
