High interest rate and inflation challenges create financial stress for a segment of vulnerable canadian borrowers

Toronto, sept. 06, 2022 (globe newswire) -- transunion today released the findings of its canada q2 2022 credit industry insights report (ciir), which shows total debt grew to an all-time high at $2.24 trillion, up 9.2% year-over-year (yoy) and up 16.4% from pre-pandemic levels observed at the end of 2019. the number of consumers with a credit balance has increased by 2.1% yoy to 27.6 million and is up 2.5% from pre-pandemic levels (q4 2019).
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