Consumer credit delinquencies fell in the first quarter of 2021 as the economy rebounded strongly, according to results from the American Bankers Association’s latest Consumer Credit Delinquency Bulletin.
Overall, delinquencies fell in seven of the 11 loan categories tracked by ABA.
The composite ratio, which tracks delinquencies in eight closed-end installment loan categories, fell 48 basis points in the first quarter to 1.91% of all accounts.
The ABA report defines a delinquency as a late payment that is 30 days or more overdue.
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