Collectively, Americans owe roughly $1.7 trillion in student loan debt, a figure likely to continue climbing as the cost of education continues to rise alongside the number of students seeking it. That figure gets no shortage of attention, particularly because so many students are having...
The U.S. Department of the Treasury has announced that a new program intending to help out with access to capital in communities that have traditionally been underserved and that have suffered more than usual in the pandemic, a press release says. Called the Emergency Capital...
Loan payments for new cars escalated to record highs, closing in on $600 per month, CNBC reported on Thursday (March 4), citing data from the consumer credit reporting company Experian. Experian’s auto financing data is gleaned from the fourth quarter of 2020, which had a...
In emerging markets, individuals and businesses have pivoted into the digital age because, simply put, they’ve had to. The pandemic has upended traditional economics and economies, changing the commerce system, and even disrupting the way more sophisticated financial service products — like loans — find...
Another round of Paycheck Protection Program (PPP) funds is readying to hit the bank accounts of small business owners, this time slightly modified from the one that went out in spring of 2020. As of Monday (Feb. 22), President Biden announced a slew of upgrades...
Bonds backed by auto loans are seeing an unprecedented rise in prices, the Financial Times (FT) reports. The riskier triple-B groups are now trading with yields 0.7 percent higher than the Treasuries of similar maturities, according to J.P. Morgan. The extra return on auto loans,...
As the pandemic lingers and as individuals and families endure cash crunches and job losses, the exposure to unplanned expenses can reach critical levels. As PYMNTS research has found, roughly 60 percent of Americans live paycheck to paycheck. And statistics from the Federal Reserve show...
The Federal Reserve’s Main Street Lending Program, intended to give support to small- to medium-sized businesses (SMBs) during the pandemic, has only disbursed $17.5 billion, around 3 percent of its total $600 billion, Bloomberg reported, citing data released by the central bank. The program seemed to...
The biggest U.S. banks have dialed back the portion of their balances they’re willing to use on loans to new lows, Bloomberg reported, citing data from the Federal Reserve. This is furthering a trend during the pandemic that has seen less and less faith extended...
