New Federal Reserve data shows American consumers’ credit card debt continuing to climb. The data, released Friday (Dec. 6), showed U.S. consumer credit climbing from $5.093 trillion in September to $5.113 trillion in October. Consumer credit on a seasonably adjusted basis increased at a 4.5%...
New government data shows American consumer debt continuing to grow. The Federal Reserve Bank of New York’s Center for Microeconomic Data released its Quarterly Report on Household Debt and Credit Wednesday (Nov. 13), showing a slight uptick in total household debt during the third quarter, up 0.8%...
Despite the volatility month to month on credit card debt, per government reports, the trend remains, generally, upward and to the right. And for consumers already shouldering that card debt, where historically high interest rates are a hallmark, even with recent interest rate cuts, personal...
LendingClub and AI lending network Pagaya have acquired Tally Technologies’ intellectual property. Tally, a FinTech that helped consumers manage credit card debt, closed its doors in August. As the two buyers noted in a news release Wednesday (Oct. 9), the company also created an “embedded,...
December 17, 2024
Securities and Exchange Commission (SEC) filings from several card issuers offer up a mixed portrait of the U.S. consumer in November. Delinquency rates were lumpy, though down a bit from October. Charge-off rates were higher, and overall, the data confirm PYMNTS Intelligence’s own findings from this past fall that indicate some struggling with the debt […]
October 09, 2024
Despite the volatility month to month on credit card debt, per government reports, the trend remains, generally, upward and to the right. And for consumers already shouldering that card debt,...
September 23, 2024
The initial euphoria that greeted the Federal Reserve’s decision this past week to cut interest rates for the first time in four years was keenly felt on Wall Street. The...
August 06, 2024
Delinquency rates are unchanged, at least in the second quarter. But debt is still rising, indicating the pressures of recent and continued spending on credit cards, on new auto loans...
December 08, 2024
New Federal Reserve data shows American consumers’ credit card debt continuing to climb. The data, released Friday (Dec. 6), showed U.S. consumer credit climbing from $5.093 trillion in September to $5.113 trillion in October. Consumer credit on a seasonably adjusted basis increased at a 4.5% annual rate for October, up from 0.8% the month before. […]
November 13, 2024
New government data shows American consumer debt continuing to grow. The Federal Reserve Bank of New York’s Center for Microeconomic Data released its Quarterly Report on Household Debt and Credit Wednesday (Nov....
October 09, 2024
LendingClub and AI lending network Pagaya have acquired Tally Technologies’ intellectual property. Tally, a FinTech that helped consumers manage credit card debt, closed its doors in August. As the two...
September 15, 2024
Americans’ struggles with their bills has reportedly been bad news for consumer lending firms. Shares in those companies fell last week following warnings from executives about lower-income customers struggling to...
