Credit

The Consumer Financial Protection Bureau said 42% of car loans issued in the last year had a repayment term of six years or more, a huge leap over the 26% with such terms in 2009.

Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger.

As more loans go bad across the credit card industry, the Riverwoods, Ill.-based company boosted its provision for loan losses by 51%.

Cybersecurity and breach notification procedures have caught the most public attention following the massive hack at Equifax, but lawmakers are also interested in the accuracy of credit reports.

CFPB Director Richard Cordray is using the Equifax breach to suggest the CFPB be given power to examine credit reporting agencies for potential cybersecurity lapses.

Richard Smith came to Capitol Hill this week to speak about the massive breach at Equifax, but it was clear Tuesday that he will be defending the entire credit reporting industry.

The Equifax breach has millions of Americans now thinking about freezing their credit to guard against identity theft. But those who act could be cutting themselves off from the nation's vast credit economy.

Senate Democrats' legislative bid to reform the credit reporting industry is tempered and balanced, according to analysts, which could help it gain traction in the GOP-controlled Congress.

Auto, personal and credit card originations have fallen as delinquencies have risen, but researchers called the slowdown a temporary rebalancing by lenders.

Balances 90 days past due are noticeably higher in 2017, new N.Y. Fed data shows. Though the trend has a lot to do with positives like economic expansion and easier access to credit, officials say it deserves careful attention.