The share of installment-loan credit accounts with payment amount information furnished to credit reporting agencies has trended upward to more than 90 percent, the Consumer Financial Protection Bureau reported.
Payment info in credit reports varies by account type: CFPB
November 13, 2020 / By ICBA
The share of installment-loan credit accounts with payment amount information furnished to credit reporting agencies has trended upward to more than 90 percent, the Consumer Financial Protection Bureau reported.
The share of installment-loan credit accounts with payment amount information furnished to credit reporting agencies has trended upward to more than 90 percent, the Consumer Financial Protection Bureau reported.
By contrast, shares of revolving and credit card accounts with actual payment information furnished have declined from a peak of 88 percent in the fourth quarter of 2013 to 40 percent as of March 2020.
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