Despite Challenges, 1Q Consumer Credit Health Stays Strong

Rising interest rates and increased prices of goods and services placed pressure on the consumer wallet in the first quarter. Despite the challenges, consumers remain well positioned from a consumer credit perspective, according to the Quarterly Credit Industry Insights Report from TransUnion, Chicago.

Rising Inflation Impacting Non-Prime Borrowers Most

As rapidly rising gasoline, energy and utility prices drive inflation, non-prime borrowers with the riskiest credit profiles have generally experienced the greatest impact to their wallets, reported TransUnion, Chicago.

CFPB Analysis Criticizes Consumer Reporting Companies on Complaint Response

A new Consumer Financial Protection Bureau analysis sharply criticized the three major nationwide consumer reporting companies, alleging changes in complaint responses provided by Equifax, Experian and TransUnion resulted in fewer meaningful responses and less consumer relief.