A record number of lenders collapsed last year, with more than 670 institutions failing, according to Fitch Ratings. The credit rating agency highlights that smaller lenders continue to face the most vulnerability within the financial sector. The trend underscores ongoing challenges for smaller financial players amid broader industry pressures. Analysts warn that the instability could have ripple effects on borrowers and local economies.
More than 670 lenders, a record, shut down last year as Fitch says smaller players remain sector’s weakest part
