Today In Data

Today In Data: Wealth Woes

Wealth can be a fickle friend, especially for people who walk the razor’s edge between “making it” and not. Among the most financially insecure are young college grads buried in student loans and older retirees living on fixed incomes. But even mega-companies and former international darlings can fall on hard times. Here’s who’s struggling to stay afloat this week, by the numbers:

$34,000 | Average student loan debt upon graduation, up 70 percent from 10 years ago. The 5 percent of borrowers who owe the most ($100,000 or more) are least likely to own a home, according to a recent report by the Wall Street Journal.

1/10 | Borrowers who are 90 days or more behind schedule in paying back their student loans. Student loan defaults are the most common type, above mortgages, auto loans and credit card debt.

103,100 | Complaints submitted to the Consumer Financial Protection Bureau last month by consumers aged 62 and older. The Bureau reportedly gets the most complaints from this group, since they’re living on post-retirement fixed incomes and any small issue could deliver a big blow to their finances.

$991 million | Losses suffered by Uber in the fourth quarter

$708 million | Losses suffered by Uber in the first quarter – so, things have improved for the ride-hailing company, but nine-figure losses are never good news.



New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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