TransUnion to cut 1,300 jobs as part of multiyear plan to reduce costs, drive growth
The company expects to deliver $120 to $140 million of annualized operating expense savings and a $70 to $80 million capital expenditure reduction in 2026 relative to 2023 levels.
Alarming number of Americans fall deeper into credit card debt each month: survey
Americans owe more than $5,000 in credit card debt on average and in times of high inflation and rising interest rates, they are relying on credit cards more than ever before. But there are ways to pay off debt quickly.
Credit card debt hits a new record while delinquencies also rise
Credit card debt smashed another record at the end of September as American consumers continued to rely on their cards to pay for everyday necessities.
Credit card debt set to hit a fresh record
New York Federal Reserve data released on Tuesday morning is expected to show that American households are carrying a record amount of credit card debt.
Small businesses are driving credit card debt higher
More small businesses are relying on credit cards as a key source of funding as they continue to deal with high interest rates and ongoing price pains.
Credit card delinquency rates and balances are on the rise
Credit card delinquency rates and balances increased in Q2 2023 amid a high interest-rate environment. But there are many ways to pay off debt quickly.
Americans to deplete pandemic era savings by end of Q3
After accumulating record breaking excess savings in the COVID-19 recession, Americans could soon deplete these reserves, the San Francisco Fed reported.
Household income drops amid high inflation
The typical American’s income dropped for the third straight year amid record-high inflation. But you can still pay down high-interest debt quickly.
Consumer credit increased by nearly $5 trillion
Consumer credit balances including credit cards reached trillions of dollars in Q2 2023 as Americans turn to credit cards to deal with high inflation and meet other needs. But there are many ways to pay off debt quickly.
Average monthly mortgage payment at near all-time high
High mortgage rates have brought average monthly mortgage payments to near-record highs as Americans deal with economic uncertainty. But there are ways to lower your monthly mortgage payments.
GDP growth for Q2 dips on second estimate
Gross domestic product (GDP) increased in Q2 2023 and signs of a strong economy could push the Fed to raise interest rates again. This could have a major impact on consumer debt.
Fed governor warns more interest rate hikes may be coming
Fed Governor Michelle Bowman said additional interest rates may be needed to lower inflation to a preferred target range. But inflation has slowed in recent months, even as Americans dealt with record-high credit card debt.
Americans depend on credit cards more than ever: survey
Americans are relying on credit cards and many said they can’t pay off their balances, according to a Quicken survey.
S&P downgrades multiple US banks citing 'tough' lending environment
S&P Global Ratings downgraded five regional U.S. banks by one notch and lowered its outlook for several other lenders, following a similar move by Moody's.
Rural North Carolina hospital 11th forced to shut down, change services this year
A North Carolina hospital has shut down and nearby residents are outraged. This is the eleventh rural hospital to close in 2023.
The US is paying a record amount of interest on its national debt
Total interest on the national debt is poised to become the priciest part of the federal budget, outstripping spending on Medicare and Social Security.
Fitch warns multiple US banks face credit downgrade: report
A Fitch Ratings analyst warned the agency may be forced to downgrade dozens of U.S. banks, including major lenders like JPMorgan Chase and Bank of America.
Credit card debt surpasses $1 trillion for Americans: NY Fed
Credit card debt increased to a record high in the second quarter as total household debt reached $17.06 trillion. And the Fed’s interest rate hikes to lower inflation could impact what consumers pay for credit. But there are multiple ways to pay off high-interest debt.
US voters say credit downgrade 'another straw in the haystack' in a 'downward spiral' economy
Three U.S. voters react to America's credit rating slipping under the Biden administration and warn of a "detrimental" Bidenomics impact "killing" the economy.
American Express reports record spending: ‘We feel really confident’
American Express said on Friday it took in a record $15.1 billion over the second quarter as card members spent more on its credit cards. Its results beat Wall Street estimates.