A confluence of factors is hurting large swaths of U.S. consumers with little to no access to credit, and a widespread lack of knowledge about how credit works is adding to the problem. In the new study “How Credit Insecurity is Changing U.S. Consumers’ Borrowing Habits,”...
Brazil’s consumers and merchants have found themselves sinking deeper and deeper into debt. As Bloomberg News reported Sunday (May 28), 4 in 10 adults in Brazil are facing default, while overdue debts rose 18.4% last month from a year earlier. The country’s household debt has for...
Life continues to be more expensive for everyone. Data shows that United States consumers in urban centers, in particular, are feeling the financial crunch. PYMNTS’ research finds that 61% of consumers lived paycheck to paycheck in April 2023, a share similar to last year. Consumers...
The red lights are flashing. Credit is becoming more expensive, lenders are becoming more restrictive. Yet consumers are still spending. They still want to spend — and they may need some help in the current environment, even though unemployment is low and wages are rising....
Mortgage originations dropped and debt delinquencies rose during the first quarter. These trends happened as total household debt rose $148 billion, or 0.9%, in the first quarter, according to the “Quarterly Report on Household Debt and Credit” released Monday (May 15) by the Federal Reserve Bank...
Money mobility — a measure of how fast and frictionless it is to send and receive money to and from accounts — is becoming common payments parlance as the practice gains greater importance in the financial ecosystem. The problem is that money mobility faces issues...
Bank charge-off rates indicate possible trouble on the horizon as consumers increasingly miss monthly payments. It can take just a single life event to turn someone’s world upside down — be it a job loss, long-lasting illness or natural disaster. These crises can have wide-ranging...
Hometap has launched a digital platform designed to help homeowners make more informed financial decisions about their home. The new Home Equity Dashboard allows homeowners to view their equity and access tools and resources that will help them reach their financial goals, Hometap said in...
Alternative data and scoring models can help deepen financial inclusion. Youth belongs to the young, goes the old saying. So does the future of financial services. PYMNTS’ data finds a wealth of potential for providers (FinTechs and FIs among them) to satisfy the financial needs...