The rich are getting richer, at least in terms of household wealth. The Wall Street Journal reports that, despite a strong recovery of home equity and prices this past year, the composition of wealth ownership has changed, becoming increasingly concentrated in older households with high...
Credit card companies, faced with an increase in costs associated with rewards and rising loan losses, have become less attractive after years of being one of the most profitable aspects of lending. According to a report in the Wall Street Journal, while credit cards are still...
New data shows that Americans are on pace to accumulate a collective $4 trillion in consumer debt by the end of 2018. LendingTree, the nation’s leading online loan marketplace, released its first Consumer Debt Outlook for May 2018 — it found that collectively, Americans owe...
Small businesses polled by online lender LendingTree expect to see savings as a result of the tax reform bill signed into law late last year, with many planning on using the tax savings to pay down debt. According to LendingTree’s survey of 1,000 small business...
Debt, as measured globally, is at the highest levels ever seen, at an aggregate of $164 trillion. Is it time to sound the alarms? The International Monetary Fund (IMF) is recommending that governments reduce the debt held on their balance sheets, CNBC reported. The latest tally, reflecting...
Economic tailwinds are helping consumers make timely loan payments. As American Banker reported Wednesday (April 4), delinquent payment rates waned a bit in the fourth quarter of last year, with late payments to banks slipping. The financial publication noted that those late payments were lower...
Thanks in part to a rising number of mortgage loans, the debt levels of Americans increased during the last three months of 2017. Reuters, citing the Federal Reserve Bank of New York, reported that household debt for the U.S. hit $13.15 trillion in the fourth...
When it comes to credit card debt, American consumers aren’t the only ones who are suffering. New results show that the big four U.S. retail banks dealt with an almost 20 percent increase in credit card losses last year. “People are using their cards to...
Wells Fargo Chief Financial Officer John Shrewsberry said at an industry conference on Wednesday (Nov. 15) that he isn’t concerned consumers are having a tough time paying back their debts. According to news from Reuters, Wells Fargo’s Shrewsberry said that banks are being competitive in getting consumers...
