According to the American Banker’s Association, during the second quarter of 2013, consumer delinquencies rose slightly. The composite ratio rose six basis points to 1.76 percent, but this is still 25 percent below the 15- year average of 2.36 percent. Bank card delinquencies remained about the same at 2.42 percent, which is 37 percent below the 15-year average of 3.85 percent.
James Chessen, ABA’s chief economist, attributes this increase to a sluggish economy and a limit to how much consumers can actually improve their financial positions. The good news is that delinquency rates remain near historical lows.