Federal Reserve Quinquennial Survey of Finance Companies
In November, the Federal Reserve launched its quinquennial Survey of Finance Companies. The survey collects financial statement data from the finance company industry to benchmark the industry in its G.19 (consumer credit) and G.20 (finance companies) statistical releases. It also informs the Federal Reserve about current finance company activities. You may have received it from the Federal Reserve directly, as well.
We strongly urge AFSA members to complete the survey, which can be found here.
This data will be an important resource for the Federal Reserve and for the industry. For example, data from the 2015 survey was used in the Federal Reserve’s 2020 report stating that a loan amount of $2,530 is necessary to break even at 36 percent.
January 3rd, 2022 by Dan Bucherer