Consumers’ total outstanding credit increased by $14.1 billion in February. Revolving credit accounted for $11.3 billion of the increase, while non-revolving credit made up the other $2.9 billion, the Federal Reserve said Friday (April 5) in its monthly report on outstanding consumer credit. “In February, consumer credit...
The good news is the U.S. economy added more than 300,000 jobs last month and many U.S. workers are now earning higher wages. The not-so-great news is many Americans continue to struggle to pay their bills — including even those earning six figures each year. According...
Unemployment dropped 3.8% last month, offering another sign that the U.S. economy is on a slow but steady upward trajectory. And while this news is worth celebrating, it’s worth remembering that there is still a significant portion of U.S. consumers who struggle to make ends...
When asked to describe their financial situation recently, nearly one-third of Americans said they are meeting their expenses “with a little left over.” When asked to identify their biggest source of financial stress over the last 30 days, 80% said price increases. These findings align with...
As inflation persists, so does sticker shock. For merchants seeking to close the sale, financing offered at the point of sale — before the purchase is made — can help boost revenues. PYMNTS Intelligence found that when shoppers think about what to buy, more than...
This week, the Office of the Comptroller of the Currency (OCC) asked U.S. financial institutions (FIs) for their help in “improving the financial capability and financial health of their customers.” In a statement issued on Tuesday (April 2), the OCC said it believes the best way FIs...
Block has entered into the eighth amendment to its revolving credit agreement with its lenders and the administrative agent, Goldman Sachs Bank USA. This amends a revolving credit facility that dates back to May 1, 2020, the company said in a Monday (April 1) filing with the Securities and Exchange...
While the average American consumer remains “credit healthy,” some trouble spots are apparent. The latest installment of VantageScore’s Credit Gauge shows delinquencies climbing across all tiers of credit — and for a range of credit products, including mortgages, credit cards, personal loans and auto loans....
Consumers’ total outstanding credit leapt by $19.5 billion in January. Revolving credit accounted for $8.4 billion of the increase, while nonrevolving credit made up the other $11.1 billion, the Federal Reserve said Thursday (March 7) in its monthly report on consumer credit outstanding. “In January, consumer credit increased at...
