CFPB flags rise in subprime credit card debt
Consumers with lower credit scores have become a larger share of the credit card market as their debt piles up faster than in the prime borrower cohort, the Consumer Financial Protection Bureau said in a report this week.
Along with subprime debt, delinquencies and charge-offs are rising as well, according to the biennial CFPB consumer credit card market report published last week.“Cardholders with prime or super-prime credit scores continue to account for most credit card debt and spending,” the study said. “However, in the past few ...
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