Do We Know What We Owe? Consumer Debt as Reported By Borrowers And Lenders

News release: “A new Federal Reserve Bank of New York study finds a striking level of accuracy in the correspondence between debt-holding patterns implied by the borrower-reported Survey of Consumer Finances (SCF) and the lender-reported Consumer Credit Panel (CCP). Some exceptions do exist, and chief among them is credit card debt, which appears to be […]