(source: en.wikipedia.org)
Most student loan borrowers have had difficulty making their loan payments, but many don’t know they could choose a different repayment plan that could help lower their payments, the Consumer Financial Protection Bureau said Wednesday (Nov. 13). Forty-two percent of these borrowers have only ever been...
The money consumers saved during the pandemic has been spent. Savings are pressured, and credit card debt is mounting. When it comes to keeping current on auto loans, consumers are running out of gas (pun intended). This week, Ally Financial was in the spotlight as...
On its face, the shuttering of Tally, a FinTech focused on helping consumers manage credit card debt, offers a snapshot of how tough fundraising is in the technology arena, how cash, once burned, is tough to replenish. Beyond the cautionary tale for FinTechs overall in...
Banks have reported earnings, and the Federal Reserve’s quarterly report on the status of banks’ assets, liabilities and other aspects of financial conditions are in. June’s data is a snapshot in time. Some weekly data points from the Fed since then point to what we...
The U.S. Department of Education is canceling student debt for another 160,000 borrowers. This latest cancellation, announced by the White House Wednesday (May 22), brings the total number of Americans who have received student debt relief from President Joe Biden’s administration to 4.75 million. “Each...
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...