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Consumer Credit

Auto Loan Defaults Rise in July

Consumer credit defaults remained relatively stable in July, according to data from S&P Dow Jones Indices and Experian. The on exception were auto loans, which showed an increase in defaults.

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CFPB to Allow Consumers to Voice Complaints Publicly

The CFPB is finalizing a policy that would allow consumers to publicly share their stories when they submit complaints to the bureau. The regulator is also seeking public comment on ways to highlight positive consumer experiences.

NAF Association Launches Compliance Certification Program

In response to the CFPB’s activities this year, the trade group has launched a new certification program for auto finance sources. The program was developed by Hudson Cook LLP.

Delinquencies Up in Q2, the ABA Reports

The American Bankers Association found that delinquencies across all credit segments rose six basis points in the second quarter. Overall, delinquencies remain significantly below their 15-year average.

New Credit at Highest Point Since 2008, Equifax Reports

New non-mortgage credit balances continue to increase, while new auto, bank and retail cards, consumer finance, home equity and student loan credit rose by $61 billion in January.

Equifax, Moody's Predict Growth in Auto Finance Market

U.S. consumer credit data from CreditForecast.com, a joint product of Equifax and Moody's Analytics, projects a rebounding consumer environment along with recovering auto and home markets in 2012.

Consumer Credit Risk Declines for Seventh Straight Quarter, TransUnion Reports

TransUnion’s Credit Risk Index declined for the seventh consecutive quarter, which the credit reporting agency partially attributed to low demand for credit. The one bright spot was demand for auto credit.

Consumer Credit Rises in September

Financing for big-ticket items like autos did rise in September, but the Federal Reserve’s latest report on consumer credit also indicated that consumers are paring down debt in other areas.

Auto Finance Companies Originating More Loans Than Banks, Credit Unions, Equifax Reports

Auto finance companies have increased lending by more than 47 percent over the past two years, according to the latest Equifax National Credit Trends Report.

New Credit Growth Highest in Two Years, Equifax Reports

First-half credit growth outpaced the first half of 2010 by $43 billion, with the automotive segment being one of the key drivers, according to Equifax’s National Credit Trends Report.