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Posts Tagged ‘Consumer Lending’
December 5th, 2022 at 10:56 am
Image of the Day: Sure Enough, Credit Card Balances Are Exploding
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As misguided politicians and regulators continue to target short-term lenders, which provide American consumers with vital financial lifelines when the only alternatives are skipping payments, bouncing checks, running up credit card debts or even going to dangerous loansharks, we’ve consistently noted how short-term lenders’ role becomes increasingly important as the U.S. economy deteriorates and credit card reliance skyrockets.  Sure enough, the New York Fed numbers provide an alarming illustration:

Credit Card Debt Skyrocketing

Credit Card Debt Skyrocketing

All the more reason to protect consumers’ access to legal, reliant, efficient short-term lending rather than irrationally target it.