Economy

The number of individuals with a debt that had been placed with a third-party collection agency continued to decline in the first quarter, along with the average collection amount per person with a debt in collection, according to data released yesterday by the Federal Reserve Bank of New York. About …

Merger and acquisition activity in the Accounts Receivable Management sector was slower in the first quarter of 2019 than it was in the same period last year, according to data released this week by Corporate Advisory Solutions. There were six deals with a combined value of $161 million during the …

Ah, the good ole’ days, when a 700 credit score meant something. These days, according to analysts and economists from both Goldman Sachs and Moody’s Analytics, a 700 credit score is just “average” and the financial services industry should be prepared because inflated credit scores are masking individuals’ inability to …

Nearly half of all Americans are not paying off their credit card balances every month, according to the results of a recently released survey, and 72% of those people have a balance greater than $1,000. And while most people sign up for credit cards to cover unexpected emergency purchases, many …

In cities across America, a pattern is emerging — there are more job openings than there are individuals looking for work. But there are still 13 million individuals living in the United States who are unemployed, working part-time or who have given up on finding a job. The problem, according …

Having gathered data for more than four years, the Federal Reserve Board of New York unveiled a new report yesterday, the Survey of Consumer Expectations Household Spending Survey, which details experiences and expectations regarding how individuals and households are spending their money. For example, should a respondent suddenly see a …

Today’s sign that an economic apocalypse is on the way: Only 44% of Americans have more savings than credit card debt, according to a survey conducted by Bankrate.com, which represents the lowest figure in the nine years that the site has been tracking the data point. Nearly 30% of Americans …

Data released this week by the Federal Reserve Board of New York is sending up red flags that consumers’ financial conditioning may be weakening, and signs of a recession may be on the horizon. Economists are pointing to a record number of individuals who are behind on their auto loans …

The numbers for the start of income tax return season for the credit and collection industry are not as great as one might hope, according to data released by the Internal Revenue Service. The average income tax refund through the first week of filings is 8% lower than the same …

The number of individuals who expect to miss a minimum debt payment during the next three months slipped again in November, according to data released yesterday by the Federal Reserve Board of New York, and is at its lowest point in six months. Just over 12% of those participating in …