Original Source Material
The CFPB published a report showing that the rate of auto repossessions at the end of 2022 surpassed pre-pandemic levels.
CFPB Finds More Vehicles Eligible for Repossession Than Pre-Pandemic
Summary
• Auto repossessions have increased post-pandemic and surpassed pre-pandemic levels.
• The CFPB report indicates a higher rate of vehicles being eligible for repossession at the end of 2022.
Why It Matters for Texas Credit Unions
Texas credit unions need to be aware of changes in repossessions rates, which can impact their operations and risk management strategies.