(source: en.wikipedia.org)
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...
Credit card lenders got a break during the spring in terms of delinquencies, but they are beginning to inch higher again in the U.S. According to a news report in The Wall Street Journal, Capital One, Synchrony and Alliance Data Systems have all seen the...
Student loan debt in the U.S. has jumped nearly 150 percent in the last decade, reaching an all-time high of $1.4 trillion, according to credit scoring company Experian. According to Experian’s new report, 13.4 percent of U.S. consumers, spanning all generations, have at least one student loan...
There isn’t much that can be said about the “average” American credit user in 2017 because, as it turns out, there really isn’t one. According to market research provider Gallup’s latest poll, the average American has at least one credit card and about $15,000 in...
The economic world before the Great Recession and the world ten years hence are similar-looking — but in many ways fundamentally different — places. And if one is looking for places where that shift can be seen most acutely, it’s the consumer’s relationship to credit...