Consumer Credit Update for 2Q 2023
South State Correspondent
AUGUST 16, 2023
We should see a slight increase in production in 2025 and 2026 driven by lower rates. Gen Z and Millennials are now using credit on their cards which was not seen before 2020. There are issues with Fair Lending around trying to mitigate this risk, so banks are cautioned to proceed with counsel and risk review.
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