Credit Industry: Great Recession Officially Over

Is it the “official” end to the “Great Recession?”

That’s just what credit industry insiders see as a new year approaches.

“All of the things that are the hallmarks of a healthy and well-functioning credit marketplace seem to be present” said Transunion’s Ezra Becker.

“Unemployment has come down, the jobs reports lately have been quite strong” Becker told KTSA News, adding “Wage pressure has been upward, so consumers generally have jobs and are making more money.”

In fact, Becker said the landscape looks much different today than it did when the market collapsed more than seven years ago.

“We’re in a very different environment now than we were back in 2004 and 2005. There’s a lot more oversight and regulation” Becker said, pointing to a number of changes that appear to have taken hold.

“Generally, lenders are issuing credit. Consumers are accepting that credit, they’re using that credit–and, they’re managing it responsibly” Becker said.

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