Consumer loan delinquencies rise in 4th quarter

Delinquencies on consumer loans are continuing to rise, according to new data released by the American Bankers Association.
APR 02, 2009
By  Bloomberg
Delinquencies on consumer loans are continuing to rise, according to new data released by the American Bankers Association. The delinquency rate during the fourth quarter of 2008 across multiple consumer loans increased to 3.22 percent. It is the highest delinquency rate since the ABA began tracking the data in the 1970s. The delinquency rate was 2.90 percent during the third quarter. Job losses during were the primary reason for the rise in loan delinquencies during the quarter, says James Chessen, the ABA's chief economist. The ABA's delinquency data tracks auto, personal, home equity, home improvement, recreational vehicle, mobile home and marine loans.

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound