The next U.S. consumer loan crisis might not be the student lending business after all, although that might happen, too.
No, the next loan crisis might just be another residential mortgage crisis.
Of course, the student loan business isn’t getting any better. The New York Fed said recently that 11.3% of student loans were delinquent in the last three months of 2014, up from 11.1% from the previous quarter. (By way of comparison, the delinquency rate on credit card loans was 7.3%, down from 7.5%.) Continue reading "The Next Financial Crisis(es)"