Anna Maria Andriotis

speaker

3,396 appearances 52 recordings 1 series first heard Jul 2017 last heard Dec 2022

Anna Maria Andriotis’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Americans Taking On Auto Loans, Credit Cards at Record Rates · 13 Jul 2021 podcast

since when the pandemic took hold in the U.S., is consumers basically saying, okay, I'm going to go out and buy that car that I put off buying or take that vacation that I've been waiting for so long to take. matched

The rollout of the vaccinations certainly plays a role. matched

The fact that people feel more comfortable and more safe moving around and that restrictions in many places have been lifted. matched

So lenders have been undoing some of the tighter lending restrictions they put in place at the beginning of the pandemic. matched

They started talking about that earlier this year during their first quarter earnings, talking about how they were matched

easing some of the tighter restrictions. matched

Like for example, when the pandemic first began, some lenders increased credit score requirements in order to approve people for credit. matched

Others limited the spending limits that they were giving to people on the new credit cards that they were issuing, as well as cutting some people's spending limits, lowering them. matched

So much of these changes are basically being undone. matched

Lenders are very eager to increase loan origination spending. matched

in particular for credit cards, because that is one space where credit card balances actually fell pretty significantly over the past year. matched

It was something that lenders did not expect. matched

And so one of their main goals, certainly this year, is to increase the credit card balances significantly. matched

that people carry from month to month because that essentially results in more interest income for the banks, which results in greater revenue. matched

And so it appears at this point at least that consumers' and lenders' goals are somewhat overlapping. matched

Consumers are seeking out the credit and lenders are becoming more comfortable giving that out. matched

So the main thing that's made lenders more optimistic, and really this has started in recent months, probably from around March, April, one is the fact that the vaccine rollout matched

has basically happened nationwide with a very high percentage of people being vaccinated, that employment overall is getting better. matched

And there's also the fact that consumers are sitting on a good amount of savings that they accumulated over the past year or so. matched

So all of these three things being looked at together, the outlook for lenders is positive. matched

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