Cap One’s Auto Delinquencies, Charge-Offs Up in August
Auto-loan delinquencies rose in August to 5.79% from 5.75% at Capital One Financial Corp., but it wasn’t the only such increase the company saw last month.
A filing with the Securities and Exchange Commission stated that the rate for Capital One’s 30-day delinquencies on its U.S. credit cards jumped to 3.37% from 3.09% in July, though charge-offs, loans that the banks do not expect to be able to collect, were lower than the previous month, falling to 2.58% from 2.62%.
Auto financing charge-offs, however, were up to 1.84% from 1.54%.
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