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- Total consumer debt swelled to $17.5 trillion in Q4, a $212 billion jump from the previous quarter.
- Delinquencies are rising among younger borrowers in particular, the New York Fed said.
- Younger borrowers have surpassed pre-pandemic levels of credit card delinquencies.
Younger Americans are falling behind on paying credit card and auto loans, with the rate of late payments rising above pre-pandemic levels in the last quarter, the New York Federal Reserve said in a report.
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