Discussion Paper

The Effects of Credit Score Migration on Subprime Auto Loan and Credit Card Delinquencies

Abstract: In the early stages of the pandemic, income support and forbearance programs led consumer loan delinquency rates to fall to near-record lows for borrowers across the credit score distribution. Since the second half of 2021, however, delinquency rates have risen, and by 2023:Q3, overall rates for auto and credit card loans had risen above their pre-pandemic levels.


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Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2024-01-12

Number: 2024-01-12