Performance Report: Consumer Unsecured & Subprime Auto Loans, July 2023

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Quick Insights

• Federal Reserve Data: Credit card debt growth has been primarily a function of recovery back to 2019 levels and is entirely driven by new account creation rather than by existing customers increasing debt burdens (page 8).

• Consumer Unsecured: Both Total Impairments and 30+ Impairments rose above historically adjusted trends (page 9).

• Subprime Auto: Impairments hit a new seasonally-adjusted record high in July (page 25).