CARES Act (4)
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In August 2020, the CFPB issued a report, The Early Effects of the COVID-19 Pandemic on Consumer Credit. The Bureau also issued a press release covering the report. As noted in the release:
The report found that consumers have not experienced significant increases in delinquency or other negative credit outcomes as reported in credit record data following the onset of the COVID-19 pandemic in the United States. This is in spite of the sharp increases in unemployment resulting from the pandemic. The report focused on mortgage, student and auto loans and credit card accounts from March 2020 to June 2020, and notes that outcomes may reflect payment assistance provided to American consumers through the CARES Act.