August marks third month of rising ABS delinquencies

The CFPB is homing in on auto loan affordability amid worsening credit performance

© Can Stock Photo / Elwynn

August marked the third consecutive month of weakening credit performance across prime and subprime auto asset-backed securitization (ABS) transactions as delinquencies remain on pace to potentially surpass pre-pandemic levels by yearend.   For prime loans, the rate of loans 60-plus day delinquent rose to 0.37%, an increase of three basis points (bps) month over month […]

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