NY Fed: Consumers report higher credit rejection rates, expect more rejection

Recently, the New York Fed’s Center for Microeconomic Data released its latest Survey of Consumer Expectations Credit Access Survey, which highlights trends in consumer credit experiences and expectations. The survey, conducted in October 2024, revealed stable credit demand but increased rejection rates for credit applications, including credit cards, mortgages, auto loans, credit card limit extensions, and mortgage refinance applications....
By: Orrick, Herrington & Sutcliffe LLP

Orrick, Herrington & Sutcliffe LLP