Household debt ratios for the third-quarter plummeted to levels not seen in more than 40 years. The Financial Obligations Ration (FOR) dropped 100 basis points (bps) over the past year, while the Debt Service Ratio (DSR) has declined 72 bps since the third-quarter of 2019, based on figures released by the Federal Reserve. The sharp…
Small business challenges for 2020 will not be easy as more than eight of ten owners indicate attracting new customers is their biggest problem, and nearly six out of ten report hiring or trying to hire qualified applicants has become frustrating. Overall, small business optimism during 2019 was a roller coaster ride for many, as…
Home sharing is becoming more expensive than a hotel stay as greedy homeowners slip in exorbitant cleaning fees and service fees. At the same hotels are migrating to the gig economy for cleaning services an apps for room service from local restaurants, according to Bankcenter and CardBuzz. Senior Analyst Robert McKinley for CardTrak says as…
Consumer confidence may be beginning to show some cracks as recent surveys and monthly data confirm. Affecting about two-thirds of economy, the fog will clear following the release of fourth-quarter payments-related reports this month. The overall consumer confidence trend for 2019 has been downward, except for high income households ostensibly benefiting from a record setting…
U.S. card late payers continue to creep upward to levels not seen since 2013 and running about 40 bps (basis points) above ratios reported five years ago. Delinquency among the Top 100 U.S. issuing banks in the third-quarter edged up 1 bps sequentially, and up 8 bps YOY (year-on-year). Nonetheless, the seasonally adjusted (SA) delinquency…
Trade tariff tensions are among the mounting evidence the American economy is spiraling downward as consumers begin to lose the faith that all is good. With consumer spending making up two-thirds of the economy, when it goes down, the overall economy declines as well. On a national level, consumer confidence started declining in July and…
Small business owners says qualified workers remain the major stumbling block to expansion. Nonetheless, U.S. business owners expressed optimism in July as expectations for business conditions, real sales, and expansion made solid gains. The optimism flies in the face of a global economic recession most likely underway as the yields on short-term U.S. bonds is…
