Bank card and closed-end loan delinquencies increased in last years fourth quarter but were still near record lows, as stated by the American Bankers Associations Consumer Credit Delinquency Bulletin.
Ninety-two percent of Americans are “very or somewhat confident” in their most recent large fiscal decision – such as deciding a charge card, purchasing an automobile or refinancing a mortgage, based on a survey by the National Foundation for Credit Counseling and NerdWallet.
Consumer borrowing to a record high in February, fueled by a big leap in student and automobile loans. The value of non-revolving debt rose by the most since July 2011.
Fair Isaac is developing a credit rating aimed at the huge numbers of individuals who are not able to acquire auto loans, charge cards and mortgages because lenders consider them to be overly speculative.
CardFlex Inc. and its principals have settled charges that they illegally processed more than $26 million in consumer costs on behalf of a firm called I Works.