Consumer delinquency rates are dropping at US retailers and banks such as American Express and Bank of America, signaling an incipient lending thaw that may spur economic growth. With fewer tardy borrowers to worry about, banks are more likely to extend fresh credit to American consumers, whose spending makes up 70% of the economy. That may weaken Federal Reserve Chairman Ben Bernanke’s commitment to an “extended period” of low interest rates — once policy makers determine the European debt crisis no longer poses a risk to the recovery, said economist Stephen Stanley.

Most Popular Articles

NAR bans “pocket listings”

The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”

Nov 12, 2019 By

Latest Articles

Guild Mortgage promotes 3 employees to top positions

Guild Mortgage, an independent mortgage lender, announced late last week that it has promoted three senior members of its leadership team as it continues to grow.

Nov 19, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please