Klarna has joined forces with the Money Adviser Network (MAN) to enable its customers in the United Kingdom to get fast, free debt advice. The buy now, pay later (BNPL) service will alert its customers the debt advice services available from members of MAN, which is provided by...
The overall rejection rate for credit applicants hit its highest level in five years in June. The rejection rate of 21.8% was the highest level since June 2018, the Federal Reserve Bank of New York reported Monday (July 17) when releasing findings from its June Survey of Consumer Expectations...
American homeowners are reportedly living in the age of the HELOC. That stands for home equity line of credit, which — as a Saturday (July 15) Bloomberg News report notes — has become a more popular method of borrowing against the value of consumers’ homes...
For the U.S. consumer, call it a case of digesting the debt that’s already on the books. To that end, the Federal Reserve said Monday (July 10) that growth in consumer credit — as measured across the board — slowed to 1.8% in May, as...
Covering costs amid higher prices have left consumers across income levels stretching their budgets — even among those in the highest earning brackets. The share of high earners living paycheck to paycheck has been most recently indicated in proprietary research carried out in preparation for...
This installment of PYMNTS’ mini-series on consumer behavior popularized during the pandemic focuses on the rise of online grocery purchases. The end of lockdowns did not signal the end of market share woes for brick-and-mortar grocers, who have ceded significant spend to their digital counterparts...
Consumer spending continued to drop in May as U.S. households curtailed spending and boosted their savings. Data from the Bureau of Economic Analysis (BEA) released on Friday (June 3o) shows that the personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred inflation gauge, improved...
In May 2023, the Federal Reserve released the Economic Well-Being of U.S. Households in 2022, the latest edition of an annual report often used to measure financial well-being. Since 2013, these reports have tracked consumers’ stated ability to afford a theoretical $400 emergency expense. The...
Backbase, a global engagement banking software provider, has made a foray into the digital wealth space with the acquisition of London-based firm Nucoro. The acquisition will allow Backbase to integrate Nucoro’s headless platform capabilities directly into the Backbase Engagement Banking platform, providing a unified, customer-centric...
