American Banker recently covered the rise in consumer delinquencies citing VantageScore’s August 2023 CreditGauge data. The article examines delinquency rates on consumer credit, which includes credit cards, auto loans, mortgages, and personal loans.
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“People are relying on their credit more and in some cases are having trouble meeting their obligations,” said Jeff Richardson, Senior Vice President at VantageScore.
VantageScore CreditGauge is a monthly analysis of U.S. consumer credit health. The August 2023 CreditGauge findings showed that consumer delinquencies were higher in August than any month since April 2020 for each of the three past-due timeframes.
Read the full story: Why consumer delinquencies are at their highest level since 2020
To review the full August 2023 CreditGauge report, please visit VantageScore Credit Gauge.
The post American Banker: Why Consumer Delinquencies Are at their Highest Level Since 2020 appeared first on VantageScore.
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