Siding against mobile data broker Kochava, a federal judge has ruled that the Federal Trade Commission can proceed with a lawsuit alleging the company harmed consumers by selling precise geolocation data.
NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $212 billion (1.2%) in the fourth quarter of 2023, to The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel.
The Center has submitted comments to the Consumer Financial Protection Bureau on the proposed rule for supervising large non-bank participants in the general-use digital consumer payment application industry.
Credit card delinquencies surged more than 50% in 2023 as total consumer debt swelled to $17.5 trillion, the New York Federal Reserve reported Tuesday.
Aggregate household debt balances increased by $212 billion in the fourth quarter of 2023, a 1.2% rise from 2023Q3. Balances now stand at $17.50 trillion and have increased by $3.4 trillion since the end of 2019, just before the pandemic recession.
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