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Economic conditions softened across several TransUnion markets in the third quarter, most notably in the U.S. and the U.K.
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2023 Q3
24 Oct 23
Spending has slowed and consumers have largely spent through the excess savings accumulated during COVID.
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2023 Q3
24 Oct 23
over the course of the quarter, but really pronounced in September, we saw banks becoming more cautious about originating new loans
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2023 Q3
24 Oct 23
the excess in savings that had accumulated on consumer balance sheets declined a lot and recently, the Federal Reserve Bank in San Francisco suggested that those excess savings balances would be gone by the end of the third quarter and have been gone for some time for all segments of the population
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2023 Q3
24 Oct 23
The decrease in loan demand, combined with tighter credit standards also fueled a pullback in marketing activity which negatively affected our consumer audience and campaign management volumes.
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2023 Q3
24 Oct 23
In U.S. Financial Services, year-over-year revenue grew 3% in July and 1% in August, but declined 5% in September.
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2023 Q3
24 Oct 23
lending volumes in the U.S. and U.K. softened progressively over the third quarter
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2023 Q3
24 Oct 23
cracks have appeared across consumer lending, especially in the lower credit tiers
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2023 Q3
24 Oct 23
banks have tightened lending standards due to weakening consumer finances and increasing capital constraints
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2023 Q3
24 Oct 23
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