Fed: Credit Rejections Rise, Fewer Can Handle Emergencies
pymnts.com/consumer-finance/2023/fed-credit-rejections-rise-while-fewer-consumers-are-able-to-handle-emergency-expenses
As reported by the Federal Reserve on Monday (Nov. 20), demand for new credit is declining.
Rejection rates for those people seeking new credit are on the rise.
And the percentage of consumers who can handle an unforeseen, $2,000 expense is waning, too.
The data in the most recent “Survey of Consumer Expectations Credit Access Survey,” found that there was a “notable” decline…
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