Birdwatch Note Rating
2024-04-11 18:24:16 UTC - HELPFUL
Rated by Participant: 51A4DDE3A331AF14E2F6A4AE834C035FFC9D8DEA3AAEE2AD346FC2BD2B033D5A
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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