Current economic and financial conditions force consumers to tap overdrafts across income levels and credit personas. One in 5 consumers experienced overdrafts or declined transactions in the last year due to insufficient funds in their bank account. Nearly half of credit marginalized consumers experienced these...
Inflationary pressures have yet to abate fully, making it necessary for many United States consumers to adjust their lifestyles to live within their means. Even as consumers work hard to manage budgets and put aside savings, 61% lived paycheck to paycheck as of July 2023,...
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...
In May 2023, the Federal Reserve released the Economic Well-Being of U.S. Households in 2022, the latest edition of an annual report often used to measure financial well-being. Since 2013, these reports have tracked consumers’ stated ability to afford a theoretical $400 emergency expense. The...
June 26, 2023
In May 2023, the Federal Reserve released the Economic Well-Being of U.S. Households in 2022, the latest edition of an annual report often used to measure financial well-being. Since 2013, these reports have tracked consumers’ stated ability to afford a theoretical $400 emergency expense. The report shows that higher prices have negatively affected most households, […]
January 06, 2019
With the government shutdown continuing, banks in the U.S. have been stepping up to help, offering forbearance on loans and the associated fees. According to a report in TheFinancial Times citing JPMorgan Chase, the bank has waived all fees on checking accounts, including overdraft charges, for customers who no longer receive a government check directly deposited into […]
