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.
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.
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.
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.
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.
The CFPB issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products.
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.
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.”
In a new blog post today, the CFPB signaled that it intends to increase its focus on the auto lending market.
Total household debt increased 2.2% in the fourth quarter of 2021, rising by $333 billion to land at $15.58 trillion, the Federal Reserve Bank of New York reported today.