For the second time in 10 years, the Federal Reserve's Federal Open Market Committee unanimously voted to raise the federal interest rate on Wednesday, Dec. 14, increasing it by a quarter of a point to a range of 0.50% to 0.75%.
Subprime Delinquencies Rise, New York Fed Reports
A notable deterioration in the performance of subprime auto loans in the third quarter has shown approximately 6 million individuals that are at least 90 days late on their auto loan payments, the Federal Reserve Bank of New York has found.