Americans paid off $10 billion in credit card debt in the third quarter (Q3) of 2020, but borrowed more for car and housing loans, according to a report in the Wall Street Journal (WSJ) citing the Federal Reserve Bank of New York. Get the Full...
U.S. consumers have been paying down payments on credit cards with the pandemic continuing to hamper spending opportunities, which has led to dramatically falling bank card loans, The Financial Times (FT) reports. Get the Full Story Complete the form to unlock this article and enjoy...
Debt collection is ready to enter the digital age. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form,...
The pandemic has fueled a record $10.5 trillion debt owed to creditors by U.S. corporations, 30 times the debt of 50 years ago, MarketWatch reported, citing a report from BofA Global Research. Get the Full Story Complete the form to unlock this article and enjoy...
Future Retail, a sprawling brick-and-mortar operation owned by Indian billionaire Kishore Biyani, made a $14 million interest payment to debt-holders on Monday (Aug. 24) – barely beating the wind-down of a grace period and narrowly avoiding defaulting on a half-billion dollars in debt, CNBC TV18...
Citigroup Inc. has asked a federal judge to order Brigade Capital Management LP to return $176 million accidentally paid to the New York-based global investment firm. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
The steep decline in consumer spending resulted in less U.S. household debt for the first time since 2014, the Financial Times (FT) reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
With one in five workers collecting jobless benefits thanks to the pandemic, banks braced for increased credit card debt and delinquencies as families struggled to pay bills. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
Two leading executives in the store credit card industry said they are nervous that when the federal $600-a-week bump for recipients of state unemployment benefits winds down July 31, pending Congressional action, credit card payments will decline substantially. Get the Full Story Complete the form...
