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Home » Prime rates edge up on heels of Fed benchmark hike

Prime rates edge up on heels of Fed benchmark hike

Rates increased 25 basis points to 3.5%

Joey PizzolatobyJoey Pizzolato
March 17, 2022
in Risk Management
Reading Time: 2 mins read
0
Auto Debt and Late-Stage Delinquencies on the Rise

© Can Stock Photo / sparky2000

Prime rates at the nation’s largest banks with auto lending arms increased today following the Federal Reserve’s announcement Wednesday that the central bank would increase its benchmark interest rate 25 basis points (bps) to a target range of 0.25% to 0.50%. Bank of America, Fifth Third, JPMorgan Chase, PNC Financial, Truist Bank and Wells Fargo […]

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