Most consumers save no money as inflation erodes buying power: EY
The share of credit card balances delinquent for more than 90 days rose to 12.8% in the first quarter of this year from 7.6% in the third quarter of 2022, the Federal Reserve Bank of New York reported.
The share of credit card balances delinquent for more than 90 days rose to 12.8% in the first quarter of this year from 7.6% in the third quarter of 2022, the Federal Reserve Bank of New York reported.
BELLINGS Intelligence Score: 38
Why it matters
Rising consumer credit card delinquencies amid inflation pressures signal notable credit stress with potential implications for credit risk assessment and lending behavior, affecting a broad set of lenders and borrowers.
Sources
CFO Dive
Most consumers save no money as inflation erodes buying power: EY
The share of credit card balances delinquent for more than 90 days rose to 12.8% in the first quarter of this year from 7.6% in the third quarter of 2022, the Federal Reserve Bank of New York reported.