December 01
15:37
2016
Regulators are airing “significant concern” about the millions of Americans who are falling behind on their car loans, even as auto lending continues to boom at a near record pace.
On Wednesday, the Federal Reserve Bank of New York noted increasing distress among auto borrowers with shaky credit, as subprime delinquencies rose in the third quarter.
In the third quarter, 2 percent of subprime auto loan balances became at least 90 days delinquent, up from 1.6 percent in the third quarter of 2014.
