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ABA Report: Consumer delinquencies rise in first quarter

Delinquencies in closed-end loans rose in the first quarter, driven by an uptick in late payments on auto loans, according to recent results from the American Bankers Association's Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in 7 of the 11 individual consumer loan categories tracked by ABA

The composite ratio, which tracks delinquencies in eight closed-end installment loan categories, rose 5 basis points to 1.56 percent of all accounts – but remains well below the 15-year average of 2.17 percent. The ABA report defines a delinquency as a late payment that is 30 days or more overdue.

To read the entire report from the ABA, click here.

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