Contrary to conventional wisdom, a recent PYMNTS report, “Interest in Mortgages Rises Among Younger, High-Income Individuals,” uncovers that income level is a significantly stronger predictor than age in determining whether consumers currently hold a mortgage or are interested in obtaining one. The study, based on a...
Credit card defaults are at their highest level since 2010 as consumers feel increasingly stretched. As the Financial Times (FT) reported Sunday (Dec. 29), card lenders wrote off $46 billion in seriously delinquent loans in the first nine months of this year, a 50% jump...
The Federal Trade Commission (FTC) is sending over $540,000 in refunds to consumers harmed by a debt collection scheme. The refunds follow the FTC’s filing of lawsuits in September 2020 and reaching settlements in March 2021 and December 2021 with National Landmark Logistics and Absolute Financial Services, the regulator...
LendingClub and AI lending network Pagaya have acquired Tally Technologies’ intellectual property. Tally, a FinTech that helped consumers manage credit card debt, closed its doors in August. As the two buyers noted in a news release Wednesday (Oct. 9), the company also created an “embedded,...
April 16, 2025
Contrary to conventional wisdom, a recent PYMNTS report, “Interest in Mortgages Rises Among Younger, High-Income Individuals,” uncovers that income level is a significantly stronger predictor than age in determining whether consumers currently hold a mortgage or are interested in obtaining one. The study, based on a survey of 2,093 U.S. consumers conducted in October, highlights a […]
September 17, 2024
U.S. consumers are taking on more card debt than has been seen in years. And in recent weeks, filings by several big banks show that the general trend of delinquencies...
August 06, 2024
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...
February 06, 2024
The pressures of increased debt burdens are put in stark relief with the latest data from the central bank. And the burden is felt keenly among younger consumers, and lower-income...
December 30, 2024
Credit card defaults are at their highest level since 2010 as consumers feel increasingly stretched. As the Financial Times (FT) reported Sunday (Dec. 29), card lenders wrote off $46 billion in seriously delinquent loans in the first nine months of this year, a 50% jump over 2023. That’s the highest level in 14 years, the […]
December 10, 2024
The Federal Trade Commission (FTC) is sending over $540,000 in refunds to consumers harmed by a debt collection scheme. The refunds follow the FTC’s filing of lawsuits in September 2020 and...
October 09, 2024
LendingClub and AI lending network Pagaya have acquired Tally Technologies’ intellectual property. Tally, a FinTech that helped consumers manage credit card debt, closed its doors in August. As the two...
February 04, 2024
Connecticut reportedly plans to cancel $650 million in medical debt for its residents. This relief will impact around 250,000 people and will make Connecticut the first state in the country to undertake...
