Monday (Sept. 9) offered up a snapshot of consumer sentiment on where inflation is headed, their overall feelings about managing a mounting debt load, and where and how they’re spending against this backdrop. Connecting the dots between the two separate reports — the Federal Reserve...
A new report released Tuesday (Aug. 27) from the U.S. Consumer Financial Protection Bureau (CFPB) sheds light on a growing trend: Major retailers are now imposing fees on customers seeking cash back through debit and prepaid card transactions. This shift comes as bank branch closures...
House Republicans are attacking a proposal that would remove medical bills from consumer credit reports. The Consumer Financial Protection Bureau (CFPB) issued its proposed rule in June, quickly drawing a rebuke from Rep. Patrick McHenry, the North Carolina Republican who heads the House Financial Services...
American consumers could become disheartened if the Federal Reserve doesn’t cut interest rates soon. That’s according to Bank of America CEO Brian Moynihan, who made that prediction in an interview with CBS News Sunday (Aug. 11), after the Federal Reserve said it would keep its...
Delinquency rates are unchanged, at least in the second quarter. But debt is still rising, indicating the pressures of recent and continued spending on credit cards, on new auto loans and new mortgages may tip those delinquencies higher. And in the meantime, in the effort...
Consumer spending has remained strong despite elevated inflation, surprising many economists. However, there are concerns about credit card delinquencies and lenders’ net charge-offs, which could indicate whether consumers can keep up with their payments. The Philadelphia Fed reported that balanced-based credit card delinquencies in Q1...
Outside of their home, or their children’s education, their car is most Americans’ largest purchase. But when it comes to making that purchase, many would-be customers run up against two big obstacles: a lack of transparency around financing solutions, and outdated software first launched in...
Chinese consumers are reportedly choosing to repay debt and buy wealth management products, despite government efforts to get them to spend. The country’s consumers put less money in the bank in June but didn’t spend that money, Reuters reported Friday (July 19). “The year-on-year decrease in...
A flat June reading for retail sales can be a tossup in terms of getting a sense of how the consumer is faring. The data released Tuesday (July 16) may have come in better than expected — economists had been looking for a month-over-month decline...