Consumer Finances news and trends

Fig Financial Launches Personal Loan Service in Canada
Loans // July 09, 2024

Toronto-based lender Fig Financial says its personal loan service is now open to all Canadians. “We are providing a true alternative to banks for every Canadian who needs better lending options. And we are doing what the banks won’t: making this experience entirely online,” Francois...

Revolving Credit’s Pace Surges 6.3% in May as Card Spending Continues
Consumer Finance // July 08, 2024

Consumers were not shy about loading up on the cards in May. The latest data from the Federal Reserve, released Monday (July 8), show that overall, consumer credit rose $11.3 billion in June, far outstripping the $6.5 billion gain on an absolute and annualized basis....

Target Says Time’s Up For Paying With Paper Checks
Payment Methods // July 05, 2024

Paying with paper checks at Target will soon be a thing of the past. The retailer said it will stop accepting personal checks at its stores later this month, according to a recent report by the Minneapolis Star-Tribune. “Target is committed to creating an easy and...

23% of Grocery Shoppers Alienated by High Prices
Consumer Finance // July 05, 2024

As grocery shoppers look to find the merchant best suited to their needs, a significant share of customers find themselves put off by higher-than-expected prices, threatening their loyalty. By the Numbers The PYMNTS Intelligence report “The Online Features Driving Consumers to Shop With Brands, Retailers...

Interviews & Exclusives
Big-Ticket Retail Sales Take Hit in June

July 16, 2024
A flat June reading for retail sales can be a tossup in terms of getting a sense of how the consumer is faring. The data released Tuesday (July 16) may have come in better than expected — economists had been looking for a month-over-month decline of 0.3% — but digging into the numbers reveals some […]

Two-Thirds of Financially Stressed Consumers Revolve Their Credit Card Balances Each Month

June 27, 2024
As consumers look for ways to make ends meet, many of those who do not have a financial safety net are forced to carry their credit card balances over to...

Q1 Earnings Show Lending Platforms’ Digital Path to Financial Wellness

May 20, 2024
Over the last several months, PYMNTS Intelligence data has revealed in separate reports that tens of millions of consumers would opt for a single point of access to manage banking...

Visa: Embedded Lending Creates ‘Halo Effect’ for Repeat Transactions

May 08, 2024
You’ve heard of embedded finance. Get ready for embedded lending. It’s a relatively new term to describe an important trend in consumer financial behavior, and Visa is among the companies...

Quick Reads
Fig Financial Launches Personal Loan Service in Canada

July 09, 2024
Toronto-based lender Fig Financial says its personal loan service is now open to all Canadians. “We are providing a true alternative to banks for every Canadian who needs better lending options. And we are doing what the banks won’t: making this experience entirely online,” Francois Cote, CEO, Fig Financial, said in a news release Tuesday […]

Target Says Time’s Up For Paying With Paper Checks

July 05, 2024
Paying with paper checks at Target will soon be a thing of the past. The retailer said it will stop accepting personal checks at its stores later this month, according...

IDIQ Debuts CreditBuilderIQ as Consumers Feel Pinched

April 16, 2024
Financial intelligence company IDIQ has launched a platform that aims to help consumers build their credit scores. CreditBuilderIQ, announced Tuesday (April 16), joins the company’s suite of identity theft protection, credit monitoring...

CFPB Supports Connecticut Bill to Limit Reporting of Medical Debt

April 15, 2024
The Consumer Financial Protection Bureau (CFPB) has written a letter in support of a Connecticut bill that would prohibit healthcare providers in the state from reporting medical debt to consumer reporting agencies for...