Through scores of reports on the paycheck-to-paycheck economy, PYMNTS Intelligence has found that there’s a commonality across income levels and demographics: Most of our collective paychecks are earmarked to meet expenses, with a little — if anything — left over to put into savings. And...
Consumers are more confident about the prospects for their household’s financial situation and the stock market than they’ve been in three years. The share of consumers who expect their financial situation to be the same or better off 12 months from now — 78.1% —...
Consumers are moving toward paying down at least some of what they owe on their credit cards. At least that was the case in April. The Federal Reserve’s latest report on consumer credit, released Friday (June 7) may give a sign that consumers are pulling...
When it comes to payments fraud, the Federal Reserve actually splits the crime into two categories: authorized and unauthorized fraud. While unauthorized fraud — which involves fraudsters initiating or redirecting bogus payments from legitimate accounts — might be the type that first comes to mind...
May 23, 2024
The Federal Reserve’s proposal to lower debit interchange fee caps has drawn a flurry of responses — roughly 2,500 responses, in fact — from trade organizations representing merchants and financial services firms, from bank executives and unaffiliated individuals too. Generally speaking, the comment period after a rule is proposed offers up insight from the various […]
May 13, 2024
Consumers are girding for inflation to settle in over the long haul. But they intend to keep spending. As reported on Monday (May 13), the Federal Reserve Bank of New York’s Center...
April 17, 2024
Eight times each year the Fed publishes what’s known as the Beige Book — a qualitative take from each of the 12 federal bank districts. The assessments cover everything from...
April 11, 2024
In signs of continued pressure in the paycheck-to-paycheck economy, more consumers are making only the minimum payments on their credit cards. And the debt on those cards is rising. The...
June 14, 2024
VersaBank needs only one more regulatory approval to proceed with its acquisition of Stearns Bank Holdingford. The bank received approval from the Office of the Comptroller of the Currency (OCC) Friday (June 14) — marking the second and final U.S. regulatory approval it needs for the acquisition — and it will now seek approval from its Canadian […]
June 10, 2024
Consumers are more confident about the prospects for their household’s financial situation and the stock market than they’ve been in three years. The share of consumers who expect their financial...
June 05, 2024
Rising investment income, high household wealth and strong employment rates are keeping Americans spending. It’s a phenomenon chronicled Wednesday (June 5) in a report by The Wall Street Journal (WSJ),...
May 30, 2024
A longtime Goldman Sachs executive is the Federal Reserve Bank of Cleveland’s new leader. Beth Hammack, co-head of global finance at Goldman, has been named the Cleveland Fed’s new president...
