Birdwatch Note Rating
2024-04-11 20:16:17 UTC - HELPFUL
Rated by Participant: BF52D38A2D1B3FD7AEEA3F4C1C9C0625A3DD72135C962D7A280097D73E9DA266
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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