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A solid pace of credit growth can point to a positive outlook for consumer spending, which accounts for more than two-thirds of economic activity.
Despite rock-bottom mortgage rates, homebuying stalled in April. It shows how the housing recovery has left many out in the cold.
Home-buying is still a challenge for a large slice of American consumers and could put limits on the housing sector's growth potential.
As investors worry about a recession on the horizon, a record 7 million Americans have stopped paying their car loans. Here’s why.
Why are auto-loan defaults surging, and does it pose a broader economic threat?
Americans stopped buying homes in 2018, mortgage lenders are getting crushed, and an economic storm could be brewing
The US housing market took a dark turn in 2018 as homebuying fell off a cliff and lenders saw a drop-off in applications, originations, and profits.
The Bank of England says UK banks have fundamentally misjudged the quality of British consumer debt and might be heading into a £30 billion hole
The warning comes after the BoE recently expressed worries about the sustainability of the "PCP" car loan business.
RBS is so worried about UK consumer debt that it is delaying launching a new low-interest credit card
"We just don’t think now is the right time, with consumer debt having grown so much," McEwan said.
‘It needs government involvement’: Britain’s top markets regulator is sounding the alarm on consumer credit
The FCA and its chief executive Andrew Bailey are "concerned about the sheer number of people who need loans to make ends meet."
They're signing up for many more personal and auto loans, according to TransUnion.
Lenders processed fewer new personal loans and credit cards for subprime borrowers year-on-year in Q2 for the first time since 2012.
Several credit-card providers say defaults are rising.