Source: AdobeStock
After nearly a decade of healthy economic growth, financial institutions have experienced a surge in consumer lending, paired with a decrease in delinquencies. However, the economy is undergoing a seismic shift due to rising inflation, increased consumer debt and hardships resulting from the pandemic. According to reports from March, consumer credit hit a record high of $52.4 billion – a notable jump from $37.7 billion the previous month and the pre-COVID average of close to $15 billion per month.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
