consumer finance

BofA CEO: Consumers Could Sour Without Interest Rate Cuts
BofA CEO: Consumers Could Sour Without Interest Rate Cuts
August 11, 2024  |  Consumer Finance

American consumers could become disheartened if the Federal Reserve doesn’t cut interest rates soon. That’s according to Bank of America CEO Brian Moynihan, who made...

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Fed Data Shows 9.1% of Credit Card Balances Hit Delinquency Status This Year
Fed Data Shows 9.1% of Credit Card Balances Hit Delinquency Status This Year
August 06, 2024  |  Consumer Finance

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...

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New Data: Germany’s Baby Boomers Flip the Script on Digital Wallet Usage
New Data: Germany’s Baby Boomers Flip the Script on Digital Wallet Usage
August 01, 2024  |  Digital Payments

Consumers in Germany are embracing their digital wallets for payments. Nearly half (47%) use them for online shopping for example. Surprisingly, baby boomers and seniors...

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New Data: Gen Z Leads the Way as Digital Wallets Surge in the UK
New Data: Gen Z Leads the Way as Digital Wallets Surge in the UK
July 24, 2024  |  Digital Payments

Digital wallets are becoming popular among consumers in the United Kingdom. In fact, nearly half (44%) of consumers in the country expect to continue using...

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CarPutty Shifts Gears on How Consumers Finance Their Cars
CarPutty Shifts Gears on How Consumers Finance Their Cars
July 22, 2024  |  Consumer Finance

Outside of their home, or their children’s education, their car is most Americans’ largest purchase. But when it comes to making that purchase, many would-be...

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Chase to Decline Credit Card Payments for Third-Party BNPL Plans
Chase to Decline Credit Card Payments for Third-Party BNPL Plans
July 17, 2024  |  BNPL

Chase told customers that it will stop allowing its credit cards to be used to pay for third-party buy now, pay later (BNPL) plans. The...

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Citigroup’s 3% Branded Card Spend Growth Driven by Higher FICO Consumers
Citigroup’s 3% Branded Card Spend Growth Driven by Higher FICO Consumers
July 12, 2024  |  Earnings

Citigroup’s earnings results showed a bit of bifurcation in consumer spending, as higher credit scoring individuals continue to use their cards and lower FICO consumers...

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Do US Consumers Underestimate the Potential Of Digital Wallets?
Do US Consumers Underestimate the Potential Of Digital Wallets?
July 08, 2024  |  Digital Payments

In the United States, digital wallets can be anywhere a smartphone is. In other words, everywhere. Many U.S. consumers are embracing digital wallets, particularly for...

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Trending: Embedded Finance Performs Double Duty as Sales Enablement Tool
Trending: Embedded Finance Performs Double Duty as Sales Enablement Tool
July 03, 2024  |  Consumer Finance

It’s a challenging time at retail — both online and in-store. Merchants are grappling with a volatile economy and the fact that consumers, in at...

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