20% of Americans Behind on Loans
Fed data reveals 20% of U.S. households now behind on loan payments.
In brief
Fed data reveals 20% of U.S. households now behind on loan payments. 20% of American households are behind on loan payments according to latest Federal Reserve data. Originally reported by Pymnts.
Fed data shows loan delinquencies rise
New Federal Reserve data shows 20% of American households now behind on loan payments.
“the share of families that reported being behind on loan payments sharply increased from about 12% to almost 20%”
Wealth gaps widen among families
The lowest quarter of households saw net worth decline by more than 50% from $3,800 to $1,700.
“the lowest quarter of households saw their net worth decline by more than 50% from $3,800 to $1,700”
Black families face deeper wealth decline
Median wealth for black families dropped 25% from 60% growth in 2022.
“median wealth for black families, which had soared 60% in the 2022 survey, saw a large decline of 25%”
The main idea
20% of American households are behind on loan payments according to latest Federal Reserve data.
