Topic
Latest reporting and analysis tagged with consumer debt.
A Trump administration proposal to cap credit card interest rates at 10% faces skepticism from experts and banking industry pushback, with concerns about unintended consequences for high-risk borrowers.
Recent data reveals average personal loan interest rates at 12.19%, with balances averaging $11,724. The Federal Reserve has cut rates three times in 2025, influencing borrowing costs.
President Trump demands credit card companies lower interest rates to 10% by Jan. 20, citing a Truth Social post. Industry warns of reduced credit access and impacts on rewards.
A Credit Karma survey shows nearly half of Americans report worsened finances in 2025, with top regrets including insufficient savings, impulse spending, and high-interest debt, though 45% remain hopeful for 2026.
New car prices have surged, pushing monthly payments to record highs. Buyers are increasingly opting for longer loans, including 100-month terms, to manage costs, though this raises concerns about total interest and being underwater.