CFPB Unveils Consumer Credit Trends Tool to Help Forecast Potential Consumer Risks

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today unveiled Consumer Credit Trends, a web-based tool to help the public monitor developments in consumer lending and forecast potential future risks. The beta version of the tool covers the mortgage, credit card, auto loan, and student loan markets. The first Consumer Credit Trends release shows a sharp uptick in mortgage originations from August to October compared to last year, growth in credit card lending to lower-income consumers, fewer auto loans to borrowers with lower credit scores, and a slight slowdown of new student loans.

“Our Consumer Credit Trends tool can chart the state of consumer markets,” said CFPB Director Richard Cordray. “This critical information will help us identify and act on trends that warn of another crisis or that show credit is too constricted.”

Continue reading:  http://www.consumerfinance.gov/about-us/newsroom/cfpb-unveils-consumer-credit-trends-tool-help-forecast-potential-consumer-risks/

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