Mortgage originations dropped and debt delinquencies rose during the first quarter. These trends happened as total household debt rose $148 billion, or 0.9%, in the first quarter, according to the “Quarterly Report on Household Debt and Credit” released Monday (May 15) by the Federal Reserve Bank...
Money mobility — a measure of how fast and frictionless it is to send and receive money to and from accounts — is becoming common payments parlance as the practice gains greater importance in the financial ecosystem. The problem is that money mobility faces issues...
Bank charge-off rates indicate possible trouble on the horizon as consumers increasingly miss monthly payments. It can take just a single life event to turn someone’s world upside down — be it a job loss, long-lasting illness or natural disaster. These crises can have wide-ranging...
Hometap has launched a digital platform designed to help homeowners make more informed financial decisions about their home. The new Home Equity Dashboard allows homeowners to view their equity and access tools and resources that will help them reach their financial goals, Hometap said in...
Alternative data and scoring models can help deepen financial inclusion. Youth belongs to the young, goes the old saying. So does the future of financial services. PYMNTS’ data finds a wealth of potential for providers (FinTechs and FIs among them) to satisfy the financial needs...
Truv has acquired Credegraph to expand its lending verification offerings. The acquisition adds Credegraph’s credit decisioning platform to Truv’s consumer-permissioned data platform, the companies said in a Tuesday (May 9) press release. This combination will enable lenders to verify an applicant’s ability to repay a...
Did it all start with diapers? WSJ reported this week (May 2) that inflation was a more difficult economic challenge than Jerome Powell, Janet Yellen and others had originally anticipated. While that may not be news to consumers living paycheck to paycheck, one reason that WSJ suggested is driving prolonged higher...
For U.S. consumers, the juggling act of which bills to pay — and when — is real. To that end, the loan data from bank earnings over the past several weeks signal that consumers are falling behind on the payments necessary to keep their cars...
PYMNTS’ research finds that 60% of United States consumers live paycheck to paycheck as of March 2023. Our data also reveals significant generational differences in how the rising cost of living impacts consumers’ financial lifestyles. For instance, millennials are the most likely to live paycheck...
