A $150 Billion Pile of Frozen Loans Starts to Worry U.S. Banks
- Consumers who rushed into forbearance programs get closer look
- Some banks granted deferrals for more than 15% of loan books
Fewer households were late on their cards, car loans, personal loans and mortgages in April than in March, according to TransUnion.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Millions of Americans getting breaks on their loans are about to hear from their banks.
Nationwide, lenders are preparing to take a closer look at consumers who have arranged to delay payments, potentially pushing some out of the programs, as the industry tries to get a clearer picture of how many customers are truly unable to keep up during the coronavirus pandemic.