Meet the new borrowers
AbstractCredit card lenders have been writing off loans at sharply higher rates since 1995, suggesting that riskier borrowers are acquiring credit cards. What makes the new borrowers riskier--even more than their personal characteristics and attitudes toward debt--is the fact that they carry higher debt burdens and work in occupations where income may be more cyclical.
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Bibliographic InfoArticle provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.
Volume (Year): 5 (1999)
Issue (Month): Feb ()
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05-16, Federal Reserve Bank of Philadelphia.
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