LendingClub is laying off 172 employees — about 14% of its workforce — to reduce costs and navigate the “challenging macroenvironment.” The move will result in...
The largest U.S. banks are reportedly bracing themselves for a surge in bad debt write-offs, the highest since the early days of the pandemic. JPMorgan...
The luxury goods sector may be facing a potential downturn, according to RBC Capital Markets. The investment bank said in a recent note that one of...
Walmart’s former U.S. CEO says consumers are facing pressures they haven’t felt in years. Speaking to CNBC Monday (Oct. 9), Bill Simon listed a host of headwinds...
Consumers are increasingly focused on finding the best deal — a preference driven by loss aversion and a desire to maximize the benefits of their...
The surge in interest rates has resulted in record-high loan payments for consumers who have borrowed money to purchase new cars. With one in five...
Bread Financial Holdings is reportedly grappling with challenges as it confronts rising credit losses and uncertainty surrounding late fees. The company’s stock price fell 3.9% as...
Household spending is up despite several factors that should be keeping it down. Americans spent 5.8% more in August compared to the year before amid...
American consumers may not want new cars, but they apparently need them. As Bloomberg News reported Monday (Oct. 2), car buyers are visiting dealerships “out of sheer...