A growing share of credit card accounts are past due on their payments. The Federal Reserve Bank of Philadelphia said in a Wednesday (April 10) press release that the share of accounts that were 30-plus days and 60-plus days past due in the fourth quarter of 2023 was...
Rising prices for everything from food to housing continue negatively affecting United States households’ financial well-being. Even as consumers continue to adjust spending to make ends meet and put aside savings, 61% of consumers lived paycheck to paycheck as of June 2023, with 21% struggling...
July 29, 2024
Consumer spending has remained strong despite elevated inflation, surprising many economists. However, there are concerns about credit card delinquencies and lenders’ net charge-offs, which could indicate whether consumers can keep up with their payments. The Philadelphia Fed reported that balanced-based credit card delinquencies in Q1 2024 reached their highest level since 2012. According to Seeking […]
April 10, 2024
A growing share of credit card accounts are past due on their payments. The Federal Reserve Bank of Philadelphia said in a Wednesday (April 10) press release that the share of accounts that...
