Consumer Credit Delinquencies in Fourth Quarter 2007
The American Bankers Association has announced that consumer credit delinquencies in the fourth quarter of 2007 reached their highest levels since 1992. "The composite ratio, which tracks eight closed-end installment loan categories, rose 21 basis points to 2.65 percent of all accounts in the fourth quarter (seasonally adjusted)." The number of delinquent bank card accounts rose 20 basis points to 4.38 percent, but remains close to the five-year average of 4.40 percent according to the ABA.
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