Among the messages conveyed so far in the continuing cavalcade of earnings reports — especially from banks — is that consumer spending is buoyant, a trend in evidence from the last few months of the year. PYMNTS Intelligence documented that through 2024, most consumers made...
The appeal of stretching out one’s cash flow — making payments over time rather than all at once, and pressuring bank accounts or boosting interest-bearing debt levels — has long been a highlight of PYMNTS’ continuing reports on buy now, pay (BNPL) later plans. Through...
The Consumer Financial Protection Bureau has been busy — with the latest salvo of (possible) rulemaking looming for buy now, pay later (BNPL) loans, earned wage access and other financial products. The CFPB sent a letter detailing the move to the Consumer Bankers Association and...
Medical debt will no longer appear on consumers’ credit reports under a new government rule. The Consumer Financial Protection Bureau (CFPB)’s newly-finalized regulation, announced by the White House Tuesday (Jan. 7), will remove $49 billion in medical debt from more than 15 million Americans’ credit reports. That means lenders...
January 14, 2025
The appeal of stretching out one’s cash flow — making payments over time rather than all at once, and pressuring bank accounts or boosting interest-bearing debt levels — has long been a highlight of PYMNTS’ continuing reports on buy now, pay (BNPL) later plans. Through the past few years — which have been marked by […]
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...
November 27, 2024
The Bureau of Economic Analysis confirmed Wednesday (Nov. 27) that third-quarter GDP grew at a 2.8% rate, unchanged from a previous estimate. However, there are several puts and takes that...
November 20, 2024
Credit is getting harder to come by, especially for auto loans, mortgages and those with low credit scores. Amid an environment where lenders are tightening, borrowers are feeling discouraged. The...
January 23, 2025
Americans are struggling to keep the cars they’re driving, the Consumer Financial Protection Bureau found. A CFPB report, titled “Auto Repossession Trends and Consumer Impact,” indicated that the rate of vehicle repossessions in the United States at the end of 2022 exceeded the rates of pre-pandemic repo levels, according to a Thursday (Jan. 23) press […]
January 07, 2025
Medical debt will no longer appear on consumers’ credit reports under a new government rule. The Consumer Financial Protection Bureau (CFPB)’s newly-finalized regulation, announced by the White House Tuesday (Jan. 7), will remove $49...
January 06, 2025
Eltropy acquired Lexop, saying the combination of the companies’ technologies will help community financial institutions (CFIs) reduce and prevent delinquencies, collect faster and enhance borrower experiences. The acquisition will add...
January 06, 2025
The Consumer Financial Protection Bureau sued nonbank financing company Vanderbilt Mortgage & Finance Monday (Jan. 6), saying the company made loans to consumers despite evidence that they could not afford...
