The latest data on personal consumption notes that spending is outpacing the growth in disposable income. And as a result, consumers are dipping into savings to keep their spending apace. The latest personal income expenditures (PCE) price index from the Bureau of Economic Analysis indicates...
Consumers are reportedly taking legal action after allegedly being deceived by their banks’ savings offerings. As The Wall Street Journal (WSJ) reported Sunday (Feb. 25), these customers say their banks advertise high-yield accounts while paying longtime customers lower rates. In some instances, the report said,...
Amber Carroll, senior vice president of membership and lifecycle strategy at LendingClub, told PYMNTS that U.S. consumers face a cash drain — but proactive planning can go a long way toward addressing the pressures of everyday financial life. The data from joint research by PYMNTS Intelligence and...
Despite a decline in inflation rates, living paycheck to paycheck remains the predominant lifestyle for a significant portion of Americans. This financial tightrope is not limited to those with lower incomes; it extends its grip to high-income earners as well. In fact, among those earning over $100,000, as many...
November 28, 2023
Amber Carroll, senior vice president of membership and lifecycle strategy at LendingClub, told PYMNTS that U.S. consumers face a cash drain — but proactive planning can go a long way toward addressing the pressures of everyday financial life. The data from joint research by PYMNTS Intelligence and LendingClub found that two-thirds of consumers’ available savings are depleted every […]
January 30, 2023
As we move into 2023, inflation and economic uncertainty remain top concerns for most U.S. consumers. In the past 12 months, increasing prices for everything from groceries to fuel have...
March 15, 2021
The next six weeks will arguably be the most impactful slice of economic time since 2008 and maybe of the last 50 years. What many analysts have called “the great...
February 25, 2024
Consumers are reportedly taking legal action after allegedly being deceived by their banks’ savings offerings. As The Wall Street Journal (WSJ) reported Sunday (Feb. 25), these customers say their banks advertise high-yield accounts while paying longtime customers lower rates. In some instances, the report said, it is only customers who were paying close attention to […]
October 29, 2023
Just how resilient is the American consumer? It’s a key question facing the Federal Reserve. As Bloomberg News reported Sunday (Oct. 29), officials from the U.S. central bank will hold a two-day policy...
September 27, 2023
Cross River Bank and Operation Hope say their financial literacy initiative has helped consumers boost their savings. The financial institution and the nonprofit announced Wednesday (Sept. 27) the midyear results of “HOPE Inside Cross...
May 31, 2022
A quarter of U.S. workers are changing their retirement planning due to surging costs for necessities, according to the BMO Harris Bank Real Financial Progress Index released Tuesday (May 31)....
