U.S. Consumer Loan Delinquencies Rose in First Quarter, ABA Says
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U.S. consumer-loan delinquencies rose in the first quarter as high gas prices and unemployment stretched the budgets of consumers, the American Bankers Association said.
Overall delinquencies across eight loan categories rose to 2.71 percent of all accounts in the three months ending March 31 from 2.68 percent in the prior quarter, the ABA said today in its Consumer Credit Delinquency Bulletin. Overdue payments on credit cards rose by 12 basis points, to 3.4 percent, after delinquencies dropped last quarter to the lowest level in almost a decade.