Demand for Auto Loans Weaken, Fed Finds | Auto Finance News | Auto Finance News

Demand for Auto Loans Weaken, Fed Finds

Banks reported that demand for auto loans weakened in the second quarter, while demand for other consumer loans remained “basically unchanged,” according to the Federal Reserve.

The findings come from 76 domestic banks and 22 U.S. branches and agencies of foreign banks surveyed by Senior Loan Officer Opinion Survey on Bank Lending Practices, whose results were released Monday. Both auto loans and credit card loans faced a weakening demand from a net fraction of banks surveyed.

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