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Consumer Finance

All articles tagged with #consumer finance

economy22 days ago•4 min saved

Inflation-Fueled Leap in Debt-Management Enrollments Sets 2026 Record

A record uptick in debt-management activity in early 2026 shows Americans grappling with higher prices: Money Management International reports 15,000 new clients and an average balance near $40,000, while total U.S. household debt hits a record $18.8 trillion and the personal savings rate sits at 2.7%. Slower savings, rising card delinquencies, and growing use of personal loans or zero-interest cards highlight the tools and trade-offs people rely on to manage debt, though these solutions aren’t universal fixes.

via USA Today|

#consumer-finance #credit-cards #debt-management

technology23 days ago•2 min saved

Apple's Daily-Dollar Lease Plan for iPhone, Mac, and More

Apple has rolled out Apple Upgrade, a multi-device lease program in the U.S. offering 12- and 24-month terms for iPhone and Apple Watch and 24- and 36-month terms for Mac and iPad, with monthly payments starting around $11.99–$24.99 and options to trade in devices plus 3% daily cash back with Apple Card. Analyst Mark Gurman sees it as a strategy to frame a $1-per-day cost as affordable, potentially boosting upgrades and locking customers into Apple's ecosystem, though success remains uncertain.

via Wccftech|

#apple #apple-upgrade #consumer-finance

economy1 month ago•4 min saved

Fed Poised to Hold Rates in July, Eyeing September Move

Markets expect the Fed to hold rates steady at July’s meeting, with a possible move in September as energy prices rise and inflation eases to about 3.5%; borrowing costs for mortgages (around 6.5%+), autos, and credit cards (roughly 23.8% APR) are likely to stay elevated, while savings yields remain attractive as longer-term yields creep higher.

via CNBC|

#consumer-finance #economy #federal-reserve

business3 months ago•2 min saved

Rising Auto Loans: $1,000-a-Month Payments Surge, Fueled by Non-Luxury Trucks

Experian Automotive's Q1 analysis of over 5 million auto loans shows nearly 19% have monthly payments of $1,000 or more, up from 17.4% year over year; about 74% of these loans are for non-luxury models, led by pickup trucks like the Ford F-150, Silverado 1500 and Ram 1500. The share of high-payment loans has surged since 2020 (5.4%), as prices and loan sizes rise, with the average loan amount hitting $43,952 and the average monthly payment $770. Delinquency rates have edged up but remain below 2018 levels, with higher risk in subprime borrowers.

via CNBC|

#auto-loans #business #consumer-finance

finance3 months ago•13 min saved

Mom Battles SoFi in Court to Erase a $55K Private Student Loan

A mother of two is suing SoFi to discharge a $55,000 private student loan after a mistaken “Congrats, your balance is $0” email coincided with a loan transfer, triggering a default and a lawsuit. Representing herself for two years, she uses AI to help draft filings and faces the emotional and financial toll, plus potential wage garnishment and credit damage if she loses. The story illustrates how confusing notices and loan ownership changes can push borrowers into lawsuits, a theme explored in Business Insider’s ongoing Student Debt Spiral coverage.

via Business Insider|

#consumer-finance #debt-relief #finance

business5 months ago•3 min saved

Record-High Car Prices Drive 84-Month Loan Boom for New Cars

With December 2025’s average new-car price at a record $50,326, buyers are increasingly financing for longer terms: 20.8% of loans were 84 months or longer and the average payment reached $722, while down payments dipped to about $6,228. The total cost of ownership has risen roughly 48% since 2019. A January dip to around $49,191 is not yet a trend. Longer loan terms also raise the risk of negative equity if car values fall.

via Road & Track|

#auto-industry #business #car-loans

business7 months ago•5 min saved

Trump’s proposed 10% credit-card cap could save consumers billions but curb access for some borrowers

Trump floated a 10% APR cap on credit cards for one year—potentially saving consumers about $100 billion annually in interest per Vanderbilt analysis—yet it could limit credit for low-income and subprime borrowers and weigh on spending; banks warn of higher fees or reduced rewards, and enactment would likely require legislation rather than executive action.

via CBS News|

#business #consumer-finance #credit-cards

business7 months ago•1 min saved

Trump Proposes One-Year 10% Cap on Credit Card Interest Rates

President Trump has called for a one-year cap on credit card interest rates at 10%, reviving a campaign promise, but has not provided details on implementation, amid a history of opposing certain financial regulations during his administration.

via The New York Times|

#business #consumer-finance #credit-cards

business7 months ago•2 min saved

Trump proposes one-year 10% cap on credit card interest rates

President Donald Trump has called for a one-year cap on credit card interest rates at 10%, citing consumer affordability concerns amid economic pressures, though details on implementation remain unclear. The proposal is part of his broader populist economic messaging, which has faced mixed public reception and political challenges, including previous efforts by the Biden administration to regulate credit card fees.

via CNN|

#affordability #business #consumer-finance

economy1 year ago•3 min saved

Fed Poised for Rate Cut Amid Economic and Political Pressures

The Federal Reserve is expected to cut interest rates by 0.25 percentage points on Thursday, marking the second reduction this year following a larger cut in September. This move aims to ease borrowing costs as inflation nears the Fed's 2% target. While the immediate impact on consumers will be minimal, further rate cuts are anticipated, potentially leading to more significant savings for borrowers over time. However, mortgage rates may not decrease as expected due to other economic factors like rising Treasury yields and concerns about U.S. debt.

via CBS News|

#consumer-finance #economy #federal-reserve

financetechnology2 years ago•1 min saved

"Robinhood's Gold Card: A Game-Changer in Credit Card Rewards"

Robinhood has unveiled its new credit card, available exclusively for Robinhood Gold members, featuring the unique ability to invest cash-back bonuses into investments. The move comes after the acquisition of startup X1, known for a similar feature. With perks like adding family members as cardholders and targeting Apple's consumer credit market, tech companies like Robinhood and Apple are increasingly expanding into the realm of personal finance, blurring the lines between technology and day-to-day consumer finance.

via TechCrunch|

#apple #consumer-finance #credit-card

consumer-finance2 years ago•0 min saved

Family's $10,000 Disney+ Gift Card Mishap Leads to Vacation Planning Blunder

A family accidentally purchased $10,000 worth of Disney+ gift cards, resulting in a significant financial loss.

via Fox News|

#consumer-finance #disney #family

consumer-finance2 years ago•6 min saved

The Risks of Deferred Interest Credit Card Promotions

A recent study by WalletHub found that 62% of Americans believe that deferred interest payment plans should be illegal. Deferred interest plans, offered by big-box retailers, promise no interest on purchases if paid off within a certain period. However, if even a dollar of debt remains at the end of the promotional period, the consumer is suddenly responsible for the full deferred interest, often at high rates. Many major retailers offer these plans, while others, like Walmart and Target, do not. Consumer advocates argue that these plans are designed to be complicated and trap vulnerable consumers.

via USA TODAY|

#consumer-finance #consumer-protection #credit-cards

business2 years ago•0 min saved

The Growing Popularity and Risks of 'Buy Now, Pay Later' Schemes

More US holiday shoppers are opting for "buy now, pay later" loans as a convenient alternative to credit cards. This trend reflects a shift in consumer finance preferences and is impacting the retail industry.

via Financial Times|

#business #buy-now-pay-later #consumer-finance

business2 years ago•1 min saved

Goldman Sachs' GreenSky sale to impact Q3 earnings, warns consortium leader Sixth Street

Goldman Sachs has announced that it will sell its fintech lending platform, GreenSky, to a group of investors led by private equity firm Sixth Street. The deal, which includes a book of loans created by Goldman, will result in a 19 cents per share reduction to third-quarter earnings. This move is part of CEO David Solomon's strategy to retrench from the bank's consumer finance ventures and focus on its core investment banking, trading, and asset and wealth management operations.

via CNBC|

#business #consumer-finance #earnings