Economy

While it appears as though some of the details of the new relief/stimulus bill that is working its way through Congress are not yet etched in stone, there are a lot of provisions that do appear to be finalized as part of a $900 billion package aimed at helping individuals …

Data that was released this week by the Federal Reserve Board of New York reminded me of a great line I remember from the original “Men in Black.” Tommy Lee Jones is trying to explain to Will Smith why everyone in the world has not been told that there are …

The collections industry continues to contract and 2020 was a tough year for a lot of companies, but there may be brighter days on the horizon, according to a report released yesterday by TransUnion. The credit reporting agency, in partnership with Aite Group, released a report that predicted the number …

If you had three guesses, do you think you could name any of the five states that have the highest amount of average credit card debt, per person? All five were in the top 10 last year, according to a ranking provided by Creditcards.com. Want a clue? Coincidentally enough, all …

The number of individuals with an account that has been placed with a collection agency continued to hit record lows in the third quarter, even as the average collection amount per person increased, according to data released yesterday by the Federal Reserve Bank of New York. Less than 8% of …

Consumers expect to make less money and spend less money, but fewer consumers expect to miss a debt payment in the next three months, according to data released yesterday by the Federal Reserve Bank of New York. The data paints a picture of how consumers feel they are managing their …

The number of individuals who are falling behind on their utility bills is skyrocketing, according to an analysis conducted by the National Energy Assistance Directors’ Association, especially as moratoriums that have been put into place during the coronavirus pandemic are expiring. On July 31, the estimated amount that was owed …

Even rich people are having problems paying their bills, according to a new report released by the Consumer Financial Protection Bureau. Looking at data that from a previously conducted survey, researchers at the CFPB concluded that 40% of all individuals had difficulty paying a bill or covering an expense in …

There was an overall drop in delinquency rates among mortgages, credit cards, auto loans, and student loans during the first few months of the coronavirus pandemic, according to data released yesterday by the Consumer Financial Protection Bureau, which also indicated that individuals were not using their credit cards to keep …

A survey of individuals from across the United States has revealed the lengths that people have gone to in order to make ends meet during the coronavirus pandemic, which offers a glimpse into how the country is managing its finances and illustrates the full impact of the pandemic, especially on …