In a quarter overshadowed by tariff discussions and global economic jitters, three of the nation’s largest financial institutions — PNC, Citigroup, and Bank of America — presented first-quarter earnings Tuesday (April 15) that pointed to both lingering uncertainties and resilient consumer spending. Analysts and investors...
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 performance metrics are showing signs of “consumer distress,” the Federal Reserve Bank of Philadelphia said Wednesday (April 9). Both the percentage of credit card accounts 90 days past due and the share of credit card accounts making the minimum payment reached the highest...
The latest data on consumer borrowing indicates that households pared back on debt — overall — in February amid headlines and uncertainty about tariffs. Spending on credit cards inched up, at an anemic pace. In the latest reading from the Federal Reserve, total credit slipped...
April 18, 2025
The four financial services companies that reported results Thursday (April 18) — KeyCorp, Truist, American Express and Fifth Third Bancorp — faced investors against a backdrop of fresh tariff headlines, stubborn inflation and a rate path that is anything but clear. Yet the collective tone was anything but gloomy. From commercial-payments pipelines to premium card spend, […]
April 16, 2025
In a quarter overshadowed by tariff discussions and global economic jitters, three of the nation’s largest financial institutions — PNC, Citigroup, and Bank of America — presented first-quarter earnings Tuesday...
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...
April 02, 2025
When economic winds shift, so do consumer spending habits. But not always in expected ways. Amid tariffs, stubborn inflation and higher living costs, many consumers are walking a financial tightrope,...
April 09, 2025
Credit card performance metrics are showing signs of “consumer distress,” the Federal Reserve Bank of Philadelphia said Wednesday (April 9). Both the percentage of credit card accounts 90 days past due and the share of credit card accounts making the minimum payment reached the highest levels seen in the 12 years the Fed has been […]
March 19, 2025
Affirm said Wednesday (March 19) that it plans to begin furnishing information about all of its payment plans to Experian on April 1. This move will expand Affirm’s credit reporting...
March 13, 2025
Block said Thursday (March 13) that its industrial bank, Square Financial Services (SFS), received approval from the Federal Deposit Insurance Corp. (FDIC) to offer the company’s consumer loan product Cash...
March 11, 2025
New data shows growing financial pessimism among Americans, the latest sign of shaky consumer confidence. The February installment of the Federal Reserve Bank of New York’s Survey of Consumer Expectations,...
