Banks are facing a $2 trillion “wall” of property debt, according to an American brokerage. As such, lenders must reduce their exposure to commercial real estate as that debt comes due over the next three years, Newmark CEO Barry Gosin told the Financial Times (FT) Monday (April 1). “Banks will be...
The specter of an increase in bad debt hangs over America’s largest lenders. Banks such as JPMorgan Chase and Wells Fargo will release their earnings in the coming days, and as the Financial Times (FT) reported Monday (Jan. 8), those earnings will likely include a...
Most consumers are dealing with some level of debt. Only 17% of U.S. consumers carry no debt, according to “The Credit Accessibility Series: Economic Malaise Exacerbating U.S. Consumer Debt Levels,” a PYMNTS Intelligence and Sezzle collaboration. Among the rest of the population, 50% of consumers...
Consumers often feel pressured to maintain a standard of living, which can be difficult in uncertain economic times with higher prices and interest rates. Keeping up with the Joneses can lead to mounting debt as U.S. consumers buy cars, take out mortgages and indulge in...
Americans now owe $1.08 trillion in credit card debt, a trend being led by millennial consumers. That’s according to a report issued Tuesday (Nov. 7) by the Federal Reserve Bank of New York on household debt, which has reached $17.2 trillion, up from $16.5 trillion...
Consumers have been racking up credit card debt in the time since pandemic-era relief programs ended. Total outstanding credit card debt topped $1 trillion at the end of 2022, the Consumer Financial Protection Bureau (CFPB) said in a Wednesday (Oct. 25) press release. During the...
It’s been nearly a year since seven banking giants helped Elon Musk buy Twitter. Now, those lenders are dealing with the impact of that decision on their balance sheets, The Wall Street Journal (WSJ) reported Wednesday (Oct. 25). Banks that include Bank of America, Barclays and Morgan Stanley lent Musk roughly $13 billion...
Consumers across income levels, credit scores and generations have accumulated high levels of debt. In fact, credit card debt recently surpassed $1 trillion for the first time. With this backdrop, high credit scores are pivotal to accessing credit and maintaining purchasing power. Consumers can improve...
The United States economy’s heavy reliance on domestic consumption has become more relevant than ever, with consumer credit card debt breaking the $1 trillion mark for the first time. Consumer drive to keep a certain standard of living — even if inflation and other factors push...
