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:strip_icc()/i.s3.glbimg.com/v1/AUTH_e536e40f1baf4c1a8bf1ed12d20577fd/internal_photos/bs/2023/u/v/MIq3DUQGeR3NdQnC7wEQ/whatsapp-image-2023-04-28-at-15.52.12.jpeg "US: Low credit levels hurt credit counselors’ business | economy")
Recent trade balance Transunion Lower-than-expected quarterly earnings raise alarm for credit counselors in the US.
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According to the company’s chief executive, Christopher Cartwright, the below-expected quarterly performance could be related to the “macro scenario” in the US, which is discouraging lending and affecting the credit company’s “business base”.
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With fewer loans, credit counselors have fewer borrowers to analyze, and TransUnion’s revenue is mainly spent on personal loan volumes. The company now expects to raise less revenue from this source, mainly due to lower volumes of loans from regional banks. Shares of the company, one of America’s three largest credit advisers, fell 7% today after the balance sheet.
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