There isn’t much that can be said about the “average” American credit user in 2017 because, as it turns out, there really isn’t one. According to market research provider Gallup’s latest poll, the average American has at least one credit card and about $15,000 in...
The economic world before the Great Recession and the world ten years hence are similar-looking — but in many ways fundamentally different — places. And if one is looking for places where that shift can be seen most acutely, it’s the consumer’s relationship to credit...
America’s debt level hit another record high in the second quarter, after having surpassed its pre-crisis peak earlier in the year. According to Reuters, total U.S. household debt was $12.84 trillion in the three months to June, up $552 billion from a year ago, according...
The credit card companies are out with data on May credit card charge-offs, which shows a mixed bag among the different players in the industry. Take Capital One, the credit card company, for starters. In a Securities and Exchange Commission (SEC) filing followed by SeekingAlpha,...
Moody’s Investors Service reported Thursday (June 8) that credit card charge-offs — debts that are so delinquent that lending institutions have basically given up on collecting them — are at their highest rate since 2009, possibly due to loosening lending standards. Synchrony Financial saw the highest charge-off...
As U.S. consumers become more comfortable with carrying higher levels of debt, the biggest credit card companies reported an increase in chargeoffs in their portfolios during the first quarter of 2017. According to American Banker, the results suggest that the post-crisis era of exceptionally low...
U.S. hospitals, balking at paying the bill for millions of Americans who have high deductible plans under Obamacare, are toying with requiring patients to pay up front before their scheduled care and are also offering no interest loans. According to a report, which cited interviews with more...
Navient, the nation’s largest student loan servicer, has touted that it wants to help American borrowers, but based on a recent filing, the company is warning that it isn’t acting in the interest of consumers. According to a report in Bloomberg News, Navient said, in a motion to...
The Department of Education warned in a legal filing last week that more than 550,000 people who signed up for a student loan forgiveness program in which their loans would be erased after ten years of public service, may no longer be valid. According to a report...
