A new report from the Consumer Financial Protection Bureau found student loan borrowers are paying greater than $125 million in interest charges and that more than 8 million people have gone 12 months or more without making any sort of payment on their students loans. According...
The aftershocks of the financial crisis of 2008 may finally be abating as consumers seem willing to take on more debt and are showing confidence in the U.S economy, according to Bloomberg. Consumers borrowed more in August than they have in the past 12 months,...
Fueled by school loans and purchases of new cars, U.S. consumers borrowed more in August than they have in almost a year, according to a Bloomberg report. According to the report, borrowing in August increased by $25.9 billion, or 8.5 percent, compared to a $17.8 billion...
Consumers appear to be paying their bills, with the American Bankers Association finding consumer delinquencies fell last quarter to the lowest point in 15 years or more. According to to a report, the American Bankers Association said the percentage of overdue closed loans came in at...
Fannie Mae is casting a wider net when it comes to scrutinizing credit details, according to The New York Times. Fannie Mae, which is the government-run entity that finances mortgages across the United States, is now revamping its risk assessment technology in an effort to...
Americans are carrying more debt than ever before and paying some of the highest credit card rates every recorded, according to new data. The national average annual percentage rate (APR) for credit card debt is 15.22 percent, according to CreditCards.com’s weekly Credit Card Rate Report....
After a long period of low interest rates, the Fed might decide on an interest rate hike following indications of inflation, but no announcement is expected by the Fed at its policy meeting next week.
Could tax liens and judgments soon be excluded from credit risk calculations? Both have an impact on people’s credit scores, making it harder for some people to access credit. But tax-lien and civil-judgment data are used to measure credit risk because they are highly predictive of default,...
Credit card issuers will be encouraged by the latest data from The New York Fed. Credit card use, after many years of slowdown after the financial crisis of 2008, is now exploding. But dig deeper into the numbers and you’ll find cause for concern. Among the Millennial...
