Indicating that Americans may have a less favorable view of their own finances, the University of Michigan Survey of Consumers fell to a gauge of 99 for October. The expected reading was 100.4 per a Thompson Reuters survey, Financial Times reported. By contrast, September had...
Data released Friday (Sept. 28) shows that U.S. consumer spending grew in August by 30 basis points, as estimated by the Commerce Department. Inflation continued to hold at the 2 percent target rate as held by the Federal Reserve, CNBC reported on Sept. 28. The reported...
Necessity is the mother of invention. Invention can become necessity. And in lending, with the financial crisis in the rearview mirror, a decade on, invention – okay, innovation – has become a hallmark, at least in some corners. Any number of musings have graced any...
New census data shows that U.S. household incomes rose for the third straight year, up 1.8 percent when adjusted for inflation. The Wall Street Journal reported that the figures, released on Wednesday (Sept. 12), show median household income increased to $61,372 last year —the highest...
To offer users actionable advice, Intuit’s Mint is updating its personal finance iOS Mint app with added benefits, new design features and data-driven MintSights™. The MintSights feature seeks to help users budget accurately, spend wisely and save, Mint said in an announcement. “We’ve heard from...
With the rate of delinquent credit card holders slowly rising, some banks are scaling back on opening new accounts. Last year, it was reported that credit card debt had surpassed the $1 trillion mark in the U.S., becoming the third consumer lending category that has surpassed...
A new study shows that millennials are worried about their retirement, especially their chances of ever collecting Social Security (SS). The Transamerica Center for Retirement Studies (TCRS) “18th Annual Transamerica Retirement Survey” found that 80 percent of millennials are worried that Social Security will not be...
FinTechs are going after another financial market void, this time providing loans to customers with low credit scores. According to a report in the Wall Street Journal, citing the market research firm Competiscan, LendUp Global and Fair Square Financial are among the FinTech startups that...
The Federal Reserve released numbers this week that showed an annual percentage rate increase of 3.1 percent as measured in June, a moderated pace from the previous month when that pace was 7.5 percent. Takeaway 1: The Credit Pace Slows The latest tally also showed...
