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ABA-Consumer Delinquencies Decline to Record Low in Second Quarter of 2021.

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ENPNewswire-October 15, 2021--ABA-Consumer Delinquencies Decline to Record Low in Second Quarter of 2021

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Release date- 14102021 - Consumer credit delinquencies fell to a record low in the second quarter of 2021 as the economy continued to rebound, according to the American Bankers Association's Consumer Credit Delinquency Bulletin released today.

The composite ratio, which tracks delinquencies in eight closed-end installment loan categories (direct and indirect auto, home equity, marine, mobile home, personal, property improvement and RV loans) fell 69 basis points to 1.21% of all accounts. Delinquencies in credit cards issued by banks fell 67 basis points to 1.38% of all accounts in the second quarter, the lowest level for the category since ABA began tracking it in 1993.

'Consumers' financial health generally continued to strengthen in the second quarter due to the robust jobs recovery and another round of federal stimulus payments,' said ABA Chief Economist Sayee Srinivasan. 'These factors helped households shore up savings and meet their financial...

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