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Category: Data, research, and reports |
Published

Credit card debt fell even for consumers who were having financial difficulties before the pandemic

We use the Bureau’s Making Ends Meet survey to study whether financially vulnerable consumers have turned to credit card debt during the coronavirus pandemic. We find that credit card debt fell even for consumers who were financially vulnerable before the pandemic.

Category: Data, research, and reports |
Published

Protecting consumers and encouraging innovation: 2019 Fair Lending Report to Congress

The Bureau is committed to ensuring fair, equitable, and nondiscriminatory access to credit for both individuals and communities. This report describes our fair lending activities in innovation, outreach, prioritization, guidance and rulemaking, supervision, and enforcement for calendar year 2019.

Category: Info for consumers |
Published

Know your data: Our updated list of reporting companies

Your credit records affect your ability to get a loan, a job, an apartment, and other essentials of life. But, do you know where and how to request your consumer reports and what you can do once you order them? You can find out in our list of reporting companies!

Category: Data, research, and reports |
Published

A new retrospective on the removal of public records

In July 2017, the nationwide consumer reporting agencies began removing civil judgments and tax liens from credit reports. Millions of consumers had records wiped from their report. Following these consumers over the next two years, this report looks at how the removal affected the relationship between credit scores and consumers’ credit performance.

Category: Data, research, and reports |
Published

New report shows how student loan borrowers fare on Income-Driven Repayment Plans

This Data Point uses the Bureau’s Consumer Credit Panel to identify likely users of income-driven repayment and provides descriptive statistics of who these borrowers are and how delinquencies on student loans and other products change after borrowers enroll in these alternative repayment programs.

Category: Data, research, and reports |
Published

New report explores trends in consumer bankruptcy

The bankruptcy system provides a legal process for consumers who cannot repay their debts.  This report describes how bankruptcy filings and the attributes of filers changed throughout the period 2001 - 2018, which includes the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) and the Great Recession.

Category: Data, research, and reports |
Published

New report explores the relationship between Financial Well-Being and the contents of and engagement with credit reports

A joint study with Credit Karma explores the relationship between subjective Financial Well-Being (FWB) and objective credit characteristics and engagement with financial education tools. The report identifies credit report and engagement variables that are significantly related to a consumer’s FWB score, including credit score, credit limit, credit utilization, and the use of a credit simulator tool. 

Category: Data, research, and reports |
Published

New report explores the extent of revolving in the U.S. credit card market

The analysis shows that about two thirds of actively used credit card accounts carry a revolving balance. Once consumers begin to revolve, they do so continuously for about 10 months on average, with approximately 15 percent revolving continuously for two years or more. The longer a balance is revolved, the higher the chances that the consumer will continue to revolve a balance.   

Category: Data, research, and reports |
Published

New report explores when consumers apply for credit cards as their credit scores change

The ability of consumers to access various types of credit can be affected by their credit scores, as many lenders require a minimum credit score before credit will be extended. This report finds that consumers with lower credit scores may strategically time their applications for credit around peaks and troughs in their scores.  

Category: Data, research, and reports |
Published

More than 1-in-5 consumers had telecommunications-related collections on their consumer report in the past 5 years

Consumers typically pay for telecommunications services monthly, but most providers do not report to consumer reporting agencies unless an account is in collections. In this report, we explore how these debts are reported. 

Category: Data, research, and reports |
Published

Aggregate credit card borrowing exhibits end-of-year seasonal patterns which vary across different sets of consumers

This report finds that aggregate end-of-year consumer credit card borrowing roughly follows end-of-year retail expenditure patterns, with consumer borrowing experiences differing across consumers with different credit scores and different credit card utilization rates at baseline.