Birdwatch Note Rating
2024-04-11 16:52:45 UTC - HELPFUL
Rated by Participant: 17C7C6BAF6CBE5E25E05E9D97157AB2746B390D28D8C308C02749C679128B07B
Participant Details
Original Note:
The report in question makes no such claim. The report cites a Bloomberg article that discusses delinquency rates being at a "decade high". https://www.bloomberg.com/news/articles/2024-01-11/credit-card-delinquency-rates-climb-to-decade-high-in-fed-study Report in question: https://www.philadelphiafed.org/-/media/frbp/assets/consumer-finance/articles/cfi-in-focus-large-bank-data-april-2024.pdf Furthermore: delinquency rates currently stand at 3%, nearly 4% below the 2009 rate of 7%. https://fred.stlouisfed.org/series/DRCCLACBS
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