U.S. consumer debt has hit a new record, but lenders shouldn't be spooked
The old record was set just before the Great Recession, and what may be most remarkable is that it took nearly nine years to reach a new milestone. ... Read full article
News Topic: William Dudley
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More evidence that rising student debt is bad for banks
New research from the New York Fed confirms a lingering worry for the banking industry: More prime-age, college-educated borrowers are delaying the decision to take out their first mortgage as they focus instead on paying off their student loans. ... Read full article
Relief planned for small banks; Auto lenders hit pot holes
Regulators want to make rules easier for small banks; auto loan defaults rise while used-car prices fall. ... Read full article
Fed's Dudley says Wells Fargo shows bank culture needs improving
The scandal involving Wells Fargo that surfaced last year shows the U.S. banking industry still has work to do on improving its culture, Federal Reserve Bank of New York President William Dudley said. ... Read full article