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Stories Tagged as

Loans

Race and Economy

Black, Hispanic and poorer families pay the price for being "unbanked"

by Samantha Fields
Aug 22, 2022
Low-income, Black, and Hispanic Americans are much more likely to lack a bank account or use alternative financial institutions like payday lenders.
A new report from the Joint Economic Committee in Congress finds that Black, Hispanic, and poorer Americans are much more likely to be considered "unbanked" or "underbanked".
Oli Scarff/Getty Images
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Banks are preparing for more loans to go bad as interest rates rise

by Justin Ho
Aug 8, 2022
They're setting aside more cash to cover delinquencies and taking closer looks at prospective borrowers.
Consumers are saving less and using credit cards more as prices and interest rates rise. Above, a person on the floor of the New York Stock Exchange watches TV screens on July 27, after the Federal Reserve raised the benchmark interest rate by three-quarters of a percentage point.
Timothy A. Clary/AFP via Getty Images
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As consumer borrowing picks up, banks keep a wary eye on the possibility of more loan defaults

by Justin Ho
May 10, 2022
It isn't happening now, but that could change in the economy starts trending down.
The rise of consumer credit has banks on the lookout for whether or not consumers can pay their debt.
Joe Raedle/Getty Images
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Commercial lending could rebound this year

by Justin Ho
Jan 14, 2022
Business lending has been sluggish throughout the pandemic. But there are signs that commercial lending is starting to pick up again.
Some businesses are currently taking advantage of low interest rates for loans.
Justin Sullivan via Getty Images
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Why do people think it's harder to get a loan now than a year ago?

by Justin Ho
Nov 9, 2021
A New York Federal Reserve survey finds that peoples' perceptions about loans have shifted, even though many are in relatively good shape compared to last year.
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Demand for bank loans isn't strong. Housing loans are the exception.

by Justin Ho
Oct 15, 2021
Consumers and businesses have used pandemic benefits to pay down loan balances.
While pandemic relief helped individuals and businesses pay the bills, demand for residential loans has remained strong this year.
Joe Raedle via Getty Images
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Revamped Chicago neighborhood loan program helps stabilize home values

by Natalie Moore
Sep 28, 2021
The Northwest Home Equity Assurance Program was originally created to help prevent white flight. The money sat unspent for years.
Brian Boyle in his backyard on Chicago’s Northwest Side.
Natalie Moore/WBEZ
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COVID-19

Despite more savings, American households still have a lot of debt

by David Brancaccio , Chris Farrell , Daniel Shin and Erika Soderstrom
Mar 19, 2021
Who's taking on debt for what reasons, and why paying it down is good for your financial and mental health.
Recent data from the Federal Reserve Bank of New York shows the overall amount of household debt increased steadily in 2020.
Chainarong Prasertthai via Getty Images
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COVID-19

Will borrowing get more expensive for consumers as the economy recovers?

by Amy Scott
Mar 5, 2021
Interest rates on 30-year mortgages have started climbing.
This week, Freddie Mac said the average interest rate for a 30-year fixed-rate mortgage climbed above 3% for the first time since July.
phototechno via Getty Images
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COVID-19

How one small business owner kept all his employees with revenue down 70%

by Reema Khrais and Andie Corban
Jan 18, 2021
Drew Dalzell, president of Diablo Sound in Los Angeles, took on half a million dollars in debt to keep his business afloat and staff working.
Angela Weiss/Getty Images
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