A growing number of Americans are falling behind on their car payments, an ominous sign for the U.S. economy as high auto prices and stubborn inflation strain household budgets.
To get us started, I’m eager to report on the industry’s most recent performance metrics. Last month the NCUA released the credit union system’s performance data for the second quarter of 2023. These aggregate statistics provide important insights into the current state of the credit union system. Overall, the metrics indicate that credit unions remain generally well positioned at this time.
In a recent move to bolster online privacy, California Gov. Gavin Newsom has signed the Delete Act, empowering Californians to regain control over their personal data by allowing them to request its deletion or forbid its sale or sharing with a single, straightforward process, according to an article from The Verge.
The Census Bureau found that 41.2% of adults reported difficulties paying household expenses in its latest household pulse survey that polled respondents from Sept. 20 to Oct. 2. That was up from 37.3% from the previous two-week polling period between Aug. 23 to Sept. 4 and the highest share on record since the survey first began asking that question in August 2020.
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released its biennial report to Congress on the consumer credit card market. The report found that in 2022 credit card companies charged consumers more than $105 billion in interest and more than $25 billion in fees.
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