IWF Center for Economic Opportunity director Patrice Onwuka discusses the stunning drop of $13.5 trillion in household wealth this year on “Fox Business Tonight.” Consumer credit reporting agency TransUnion anticipates delinquency rates for credit cards and personal loans will jump next year to highs not seen in more than a decade due to shifts in … Read more
Another upside is what Kukla calls an “escape hatch” many borrowers — specifically used-car owners — still have because of high resale values. Some consumers can extinguish a large part of their loan by selling their vehicle because lenders earn more money from that outcome than if they repossessed the vehicle and sold it at … Read more
Non-bank financier Bajaj Finance witnessed a rise in delinquencies in the three months to June, emanating from its the auto finance business and specifically because its three-wheeler finance segment was hit by the second wave, managing director Rajeev Jain told analysts. The total size of its auto finance book is ₹11,347 crore as on 30 … Read more
Breadcrumb Trail Links PMN Business Canada’s strong jobs market helped the country’s banks extend their streak of declining loan delinquencies to two full years, with estimates now showing the trend isn’t expected to reverse until next year. Author of the article: Bloomberg News Kevin Orland Publishing date: Sep 02, 2022 • 11 minutes ago • 1 … Read more
COVID-19 is still dealing small businesses the classic one-two combo — first with the shutdown, now with inflation. More than two years since the onset of COVID-19 when brick-and-mortar businesses began the fight to keep their space as revenue plummeted, the new threat of inflation has led to 40 percent of businesses unable to pay … Read more