Earlier this summer, the Supreme Court struck down President Joe Biden’s student loan forgiveness plan. It was bad news for many borrowers, but not all of them. As Bloomberg News reported Sunday (Aug. 20), some borrowers have still had their balances erased, weeks before monthly loan payments...
With inflation still at high levels, Americans continue to rely on their regular paychecks to meet their expenses and financial obligations, with little or no savings left over for unbudgeted costs or emergencies. Over 60% of U.S. consumers lived paycheck to paycheck as of June this year...
Gen X has been walking a difficult financial tightrope over the past few years, and double debt duty may be leaving “The Forgotten Generation” in tighter financial straits than other age cohorts. Sandwiched between millennials and baby boomers (and aged 43 to 58 as of...
Federal student loan payments are resuming after a three-year moratorium, putting a dent in millennial and Generation Z consumers’ disposable income. And major retailers are poised to see their top lines pinched as a result. Disposable Income Takes a Hit PYMNTS’ data revealed that no...
Credit card use is up, and card balances are increasing. It may be the more vulnerable borrowers among us signaling that distress could lie ahead — particularly in auto loans and retail cards. Data released this week from VantageScore showed that credit card are delinquencies rising compared to...
How high is America’s credit card debt? The answer varies from source to source. Either way, it’s either more than or close to $1 trillion, according to a Tuesday (May 30) report by The Hill that examined consumers’ growing dependency on credit cards. “In 2021, we...
Credit card debt is at an all-time high. Although it’s not yet fully in the rear-view mirror, earnings season is signaling that where there’s smoke, there may be fire — or are at least some sparks. Drilling down into the supplementals and Securities and Exchange Commission (SEC)...
Borrowing among consumers jumped in March amid a sharp spike in credit card use. Recent data from the Federal Reserve shows credit in the aggregate leaping by $26.5 billion in March following a $15 billion increase in February. According to the Fed, total revolving debt...
The daily juggling act of managing household expenses forcing consumers to think about credit. Specifically, how and when they might take on more credit card debt to help ease the pain points of inflation, which remains stubbornly high, and which continues to eat into purchasing...
