More than a quarter of consumers own a store card, defined as a card that exclusively features a retailer’s branding. While co-branded cards can be used across several retailers, store cards can be used only at a particular merchant. The PYMNTS Intelligence report “The Role...
A lawsuit in the United Kingdom alleges that the country’s Financial Conduct Authority (FCA) unfairly “shut out” some small businesses when compensating customers who were mis-sold interest rate hedges between 2001 and 2011. The lawsuit centers on an agreement formed by the FCA’s predecessor, the...
The Personal Consumption Expenditures Price Index for October showed a re-ignition of inflation. The PCE increased at an annualized 2.3% rate, which is a quickening from the 2.1% pace in the previous month, the Bureau of Economic Analysis said Wednesday (Nov. 27). As measured month...
Headed into Black Friday, consumers are more positive than they have been in months. That’s among the takeaways from the latest reading of The Conference Board’s Consumer Confidence Index released Tuesday (Nov. 26). The November report came in at 111.7 and is at the top...
November 26, 2024
Headed into Black Friday, consumers are more positive than they have been in months. That’s among the takeaways from the latest reading of The Conference Board’s Consumer Confidence Index released Tuesday (Nov. 26). The November report came in at 111.7 and is at the top of the range recorded through the past two years. It’s […]
November 08, 2024
All eyes were on the Federal Reserve’s interest rate cut this week. As widely expected, the central bank delivered a 0.25% trimming to the federal funds rate Thursday (Nov. 7),...
October 30, 2024
Despite the interest rate cuts by the Federal Reserve — 0.5% for the first go-round in September, with more cuts widely expected — the fact remains that the era of...
October 11, 2024
As 2024 draws to a close, and as evidenced by management remarks and data in the latest earnings results from JPMorgan Chase, posted on Friday (Oct. 11), consumer spending, in...
December 19, 2024
Morgan Stanley reportedly upgraded its rating and price targets on shares of several credit card companies and lenders, citing stabilization in consumer credit and an anticipated favorable regulatory environment. Analysts at Morgan Stanley said Thursday (Dec. 19) that several trends are expected to support the stabilization in consumer credit, Seeking Alpha reported Thursday. These trends […]
December 10, 2024
A lawsuit in the United Kingdom alleges that the country’s Financial Conduct Authority (FCA) unfairly “shut out” some small businesses when compensating customers who were mis-sold interest rate hedges between...
November 22, 2024
The Federal Reserve’s pandemic-era Main Street Lending Program reportedly had $1.23 billion in interest and principal payments in default as of Oct. 31. The program delivered $17.5 billion in loans,...
November 01, 2024
Capital One disclosed Thursday (Oct. 31) that it could face an enforcement action by the Consumer Financial Protection Bureau (CFPB) regarding its introduction of a new savings account product with...
