The paydowns earlier this year were temporary. And as the latest consumer credit data from the Federal Reserve on Friday (June 6) indicated, consumers turned to credit as a way to pay for goods and services, in an April rush that indicates they sped up...
America’s biggest bank says businesses and consumers are resilient in the face of uncertainty. As such, JPMorgan Chase is projecting that it could earn more from interest payments this year, according to a Reuters report Monday (May 19) from the bank’s annual presentation to investors and analysts. Jeremy Barnum,...
Banking giants are trying to catch up to FinTechs in offering pay later services. A report Saturday (March 8) by the Financial Times (FT) examines this trend, using the example of JPMorgan Chase’s recent partnership with Klarna to offer installment loans to its 900,000 business...
Senators Bernie Sanders, I-Vermont, and Josh Hawley, R-Missouri, introduced a bill Tuesday (Feb. 4) that would cap credit card interest rates at 10%. The Sanders-Hawley bill would cap the interest rates immediately and the legislation would remain in effect for five years, the senators said...
August 11, 2026
A rare decline in overall U.S. household debt has masked the fact that consumers are still adding balances to the forms of credit most closely tied to everyday spending and purchases. Total household debt slipped by $13 billion in the second quarter to $18.8 trillion, according to the latest Federal Reserve Bank of New York […]
December 17, 2024
Securities and Exchange Commission (SEC) filings from several card issuers offer up a mixed portrait of the U.S. consumer in November. Delinquency rates were lumpy, though down a bit from...
October 09, 2024
Despite the volatility month to month on credit card debt, per government reports, the trend remains, generally, upward and to the right. And for consumers already shouldering that card debt,...
September 23, 2024
The initial euphoria that greeted the Federal Reserve’s decision this past week to cut interest rates for the first time in four years was keenly felt on Wall Street. The...
May 19, 2025
America’s biggest bank says businesses and consumers are resilient in the face of uncertainty. As such, JPMorgan Chase is projecting that it could earn more from interest payments this year, according to a Reuters report Monday (May 19) from the bank’s annual presentation to investors and analysts. Jeremy Barnum, the bank’s chief financial officer, told investors that JPMorgan’s net […]
March 09, 2025
Banking giants are trying to catch up to FinTechs in offering pay later services. A report Saturday (March 8) by the Financial Times (FT) examines this trend, using the example...
February 04, 2025
Senators Bernie Sanders, I-Vermont, and Josh Hawley, R-Missouri, introduced a bill Tuesday (Feb. 4) that would cap credit card interest rates at 10%. The Sanders-Hawley bill would cap the interest...
January 22, 2025
Ally Financial has sold its credit card business to consumer finance company Cardworks. The deal, announced in a news release Wednesday (Jan. 22), will see CardWorks and its subsidiary Merrick Bank acquire Ally’s credit card...
