While banks continued to remain in a posture of easing standards on commercial, mortgage and personal loan products, the easing trend slowed in the third quarter from the prior two quarters, according to the Federal Reserve’s senior loan officer opinion survey released today.
With the COVID-19 pandemic driving more consumers to online and mobile banking, banks have to meet rising customer expectations and bridge online and in-person options, the American Bankers Association and Accenture said today in a new report on the state of digital lending.
Consumer credit delinquencies fell to a record low in the second quarter of 2021 as the economy continued to rebound, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin released today.
Over the past 20 years, the location of the nearest full-service bank branch for urban consumers has remained stable at 1.5 miles and has improved for rural customers, falling from 4.6 miles to 4.3 miles, despite an increase in bank consolidation, according to a new report from the Federal Reserve Bank of Cleveland.
Total household debt increased 2.1% in the second quarter of 2021, rising by $313 billion to land at $14.96 trillion, the Federal Reserve Bank of New York reported today.
As the small business recovery took off in the second quarter, a substantially larger share of banks reported easing standards for business loans, continuing the easing trend seen in the first quarter of 2021, according to the senior loan officer opinion survey released by the Federal Reserve today.
Credit applications have largely rebounded to their pre-pandemic levels after a significant drop during the crisis, though there was substantial variation in the path to recovery for different credit types, according to a new research brief from the Consumer Financial Protection Bureau today.
Bank lending is not keeping up with deposit growth. Here’s why.
While delinquency rates and other indicators of consumer financial stress may rise as COVID-19 support programs are phased out, most consumers appear to be in good financial shape.
Consumer credit delinquencies declined in the first quarter of 2021—following a rise the prior quarter—as the economy rebounded strongly, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin released today.