TransUnion Unsecured Personal Lending Industry Insights Report Q2 2024

This report presents insights into the unsecured personal lending industry for the second quarter of 2024. It outlines key highlights, including a year-over-year growth in originations for the first time in several quarters, primarily driven by Super prime and below Prime risk tiers. The report details that while direct mail prescreen and online inquiry levels are trending upward, they still lag behind levels seen in previous years. It documents the average origination loan amount and duration, both of which have declined compared to the same quarter last year. Additionally, the report emphasizes that total balances reached a new record of $246 billion, driven by Super prime consumers. Delinquency rates have shown improvement at the consumer and account level, although delinquencies on balances remained flat. The report also includes a spotlight on the expansion and future of Buy Now Pay Later (BNPL) financing, providing a comprehensive view of the current lending landscape.