WSJ reports that millions of Americans with subpar low credit scores are falling behind on paying their credit cards and automobile and personal loans. This is an ominous sign the ‘strong consumer’ narrative is cracking.
Data from credit-reporting firm Equifax Inc shows a rise in the share of 60-day delinquencies for subprime credit cards and personal loans. Those delinquencies hit an eight-month high in March, nearing levels not seen since before the virus pandemic.
Equifax’s data also showed subprime car loans and leases soared to a record-high in February. The data goes back to 2007. There’s new concern about the consumer’s […]
Read the rest of this story here: www.zerohedge.com
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