PYMNTS

NOVEMBER 18, 2020

According to Federal Reserve Data , consumers opt for cash a little less than half the time (43 percent) when making a purchase of $10 or less. And 11 percent fewer consumers carry cash now than did in 2018. And mostly for low dollar purchases. At least before COVID-19, anyway. The study also found that the typical U.S.

ATM 121

ATM Federal Reserve Push-to-Card Consumer 121

PYMNTS

APRIL 1, 2019

Indeed, it appears time for entrepreneurs to reflect rising concerns over the economy, trade and other factors adding pressure to future performance. “But, eventually, the weakness spreads from manufacturing to the services side of the economy, triggering a more general economic slowdown.” market in the near future. .”

Federal Reserve 51

Federal Reserve Small Business Economy Fed 51

PYMNTS

DECEMBER 15, 2020

Paysafecash, the release stated, will help the 22 percent of Americans with no bank accounts or who are underbanked according to the Federal Reserve's research. Paysafecash launched in 2018 and is now live in nearly 30 markets around the world, according to the release.

Online and Mobile Banking 72

Online and Mobile Banking Alternative Payment Methods Federal Reserve Payments 72

PYMNTS

NOVEMBER 15, 2019

percent, the biggest monthly decrease since December 2018, according to the Commerce Department. Federal Reserve Chair Jerome Powell told lawmakers on Thursday (Nov. economy is the star economy these days … there’s no reason that can’t continue.”. Spending on furniture and home-furnishing sales dropped 0.9

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Federal Reserve NOV Economy Central Bank 46

PYMNTS

FEBRUARY 20, 2018

By many measures, the economy looks strong. According to the New York Federal Reserve, household debt surged in the final quarter of 2017 to $13.15 Despite the decline in confidence, consumers’ expectations remain at historically strong levels, suggesting economic growth will continue well into 2018,” she said.

Economy 42

Economy Credit Cards Federal Reserve Fed 42

PYMNTS

NOVEMBER 30, 2020

He also officially named Janet Yellen , former head of the Federal Reserve, as treasury secretary. In general, Biden’s appointees are committed to building up the economy so as to lower unemployment and drive up workers’ wages. economy recover from the pandemic-induced crisis.

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Federal Reserve Treasury Advisors Fed 56

PYMNTS

NOVEMBER 24, 2019

business activity is starting to show signs of rebounding as global economies slow down, a Nov. This indicates that the “currency area’s economy was close to stagnation.”. Economists and analysts say it’s timing; the tariffs coincided with the start of the pullback in the third quarter of 2018. On the flip side, overall U.S.

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PYMNTS

DECEMBER 29, 2019

business loans and capital investment have essentially plateaued in the second half of 2019, in what experts say is a reflection of the slowing industrial economy. Most of it, too, was at mid-sized and small banks, according to data from the Federal Reserve. While there was growth in commercial and industrial loans of 1.6

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PYMNTS

JANUARY 15, 2019

The news comes as Former Federal Reserve Chair Janet Yellen says that signs are pointing to a slowdown in business spending this year. But she went on to say, “The global economy was firing on all cylinders in 2018 and now looks like we’ve got less strong and less synchronized global growth.”.

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Federal Reserve Shutdown Economy Governance 46

PYMNTS

JUNE 17, 2020

In today’s top news, many jobless Americans can’t afford to seek medical care, and the Fed’s Jerome Powell said the economy is far from a full recovery. banks took a profit hit of 69.6 percent in the first quarter of 2020. Jobless Americans Can’t Afford Doctor Visits. Powell: US Faces Long-Term Damage As Downturn Persists.

Federal Reserve 52

Federal Reserve Money Laundering Visa Phishing 52

PYMNTS

JANUARY 29, 2019

“As a result of reduced economic activity, CBO estimates, real (that is, inflation adjusted) gross domestic product (GDP) in the fourth quarter of 2018 was. ” But the shutdown will have larger implications on the economy, most notably a fall in consumer spending due to unpaid federal workers reducing their expenses. .

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Shutdown Federal Reserve Economy Fed 46

PYMNTS

SEPTEMBER 18, 2018

Total mortgage debt of one to four-family residences, as measured by the Federal Reserve, stood at $9 trillion as compared to $9.3 Much has been made in these pages about the warning signs that may be in the offing, as risk appetite has returned to lenders amid a booming economy. trillion at the peak of the financial crisis.

Innovation 59

Innovation Federal Reserve Credit Cards Economy 59

PYMNTS

FEBRUARY 14, 2018

Reuters, citing the Federal Reserve Bank of New York, reported that household debt for the U.S. For November , the Federal Reserve reported that outstanding consumer credit rose by $27.95 Thanks in part to a rising number of mortgage loans, the debt levels of Americans increased during the last three months of 2017.

Federal Reserve 44

Federal Reserve Non-Bank Adjustments Credit Cards 44

PYMNTS

FEBRUARY 25, 2019

Americans between the ages of 19 and 29 ended 2018 collectively owing more than $1 trillion in debt, the highest level for young adults since the end of 2007. These debt levels can have long-lasting effects on young adults’ spending as well.

Federal Reserve 43

Federal Reserve Economy Consumer 43

PYMNTS

JANUARY 25, 2019

For big bank loans taken out before April of 2018, prospects of repayment are good, federal banking regulators said on Friday (Jan. However, the portion of loans owed by strongly leveraged borrowers is still high. Reuters reported that the U.S.

FDIC 43

FDIC OCC Office of the Comptroller of the Currency Risk 43

FICO

FEBRUARY 25, 2019

After a 2018 that had its highs and lows, what might 2019 have in store from a credit risk management standpoint? There is some evidence that this tightening is occurring, with the Federal Reserve Board (Fed) reporting higher reject rates based on its Oct. 2018 SCE Credit Access Survey. has experienced. has experienced.

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Credit Risk Underwriting Origination Fed 63

PYMNTS

OCTOBER 26, 2018

As noted by the New York Times and other media outlets, the economy remains on a trajectory that will see 3 percent growth in 2018, and that number has not been seen since 2005. The impact of inflation and its read across for interest rates, of course, has been closely watched, as the Federal Reserve has continued to boost rates.

Continuity 51

Continuity Consumer Federal Reserve Economy 51

PYMNTS

NOVEMBER 5, 2018

To that end, the Federal Reserve proposed last week that some rules be relaxed for 16 financial institutions — though the largest banks in the country are not among them. Roughly a decade on, is it time to remove some of the rules governing the financial sector that took shape in the aftermath of the Financial Crisis of 2008?

Fed 51

Fed Federal Reserve Regs Rules 51

CB Insights

JANUARY 5, 2021

Between 2008 and 2018, the number of commercial bank branches in the US has declined by more than 6%. In the US, 16% of adults are underbanked — meaning that they have bank accounts but use alternative financial services like payday loans or check-cashing services — while 6% were unbanked, per the Federal Reserve. . First name.

Online and Mobile Banking 98

Online and Mobile Banking Financial Inclusion Checks Federal Reserve 98

PYMNTS

FEBRUARY 19, 2019

As concerns are raised about how industry consolidation might impact competition, Federal Reserve Chairman Jerome Powell is warning that it could hinder small businesses’ access to capital and financial services. months in the first half of 2018, from 5.6 months in the first half of 2018, from 5.6

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Fed Federal Reserve Office of the Comptroller of the Currency OCC 43

PYMNTS

DECEMBER 9, 2019

Driving much of this action in the B2B space are gig economy workers , whose ranks have grown geometrically since the Great Recession. The Federal Reserve estimated the gig economy workforce at roughly 75 million Americans in 2018, while the Bureau of Labor Statistics has said freelancers could comprise 40 percent of the U.S.

Checks 52

Checks Federal Reserve P2P B2B 52

PYMNTS

JANUARY 14, 2019

A report from Packaged Facts, “ The Financial Services Market: African Americans and Hispanics, as of 2018 ,” found that while 70 percent of U.S. In fact, numbers from the Federal Reserve show that consumer debt — which includes credit cards , auto loans, student loans and personal loans — is expected to hit $4 trillion this year.

Consumer 46

Consumer Federal Reserve Credit Cards Security 46

PYMNTS

DECEMBER 9, 2018

CNBC, citing comments Citi’s May made, reported that the slowdown in hiring is coming on the heels of a healthy rate of growth in jobs throughout 2018. The report was well received on Wall Street as investors bet it could be enough to stop the Federal Reserve from raising interest rates.

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Federal Reserve Payroll Posting Continuity 51

PYMNTS

MAY 26, 2020

economy all but shut down to slow that pandemic’s spread. economy would imply, and were unlikely to ever attain their parents’ earnings potential. A major Pew study found that as of 2018, millennials with college degrees and full-time jobs were earning roughly what Generation Xers made in 2001.

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Federal Reserve Economy CHIPS Continuity 61

PYMNTS

MARCH 18, 2019

Fast forward a few years, and we now have the Federal Reserve Board soliciting public comments on its potential role as the operator of a new faster payments network in the U.S. NACHA reported that in Q4 2018, SDA volume hit 51.3 No date has been given for that process. The Fed’s Hat and the Faster Payments Ring.

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Faster Payments Fed RTP Same Day ACH 80

PYMNTS

MAY 11, 2018

New data shows that Americans are on pace to accumulate a collective $4 trillion in consumer debt by the end of 2018. As far as paying off that debt, the Federal Reserve’s Survey of Consumer Expectations shows that consumers, on average, expected there was only a 10.72 billion to $976.6

Consumer 46

Consumer Credit Cards Federal Reserve Payments 46

PYMNTS

MAY 24, 2018

Federal Reserve finds small businesses are enjoying boosted confidence (and revenues). while the Federal Reserve found that small business optimism is on the rise, fewer entrepreneurs are seeking finance – just 40 percent of SMBs surveyed said they were seeking external funding, down from 45 percent in 2017.

Finance 40

Finance Federal Reserve Small Business Fed 40

PYMNTS

DECEMBER 23, 2019

Recently, the market has been recovering after the Federal Reserve cut interest rates three times this year, which had the effect of pushing down mortgage rates from record highs in other recent years. percent in November from the same time in 2018. This year’s numbers surged 16.9 The median price for a new house went up 7.2

Federal Reserve 52

Federal Reserve Accounts Economy 52

PYMNTS

APRIL 4, 2019

A little over a decade ago, something nearly unprecedented happened in the American economy: household debt contracted instead of growing. As of the last quarter of 2018, total U.S. At the end of 2018, super-prime borrowers with FICO scores north of 760 were taking out the majority of the new credit products.

Fed 46

Fed Credit Cards Underwriting Federal Reserve 46

PYMNTS

APRIL 28, 2020

As the economy has more or less ground to a halt over the last several weeks, time has become harrowing for homeowners who face frozen income streams and continuing mortgage payments due to the coronavirus pandemic. Redefining Normal.

Federal Reserve 57

Federal Reserve Economy On-Demand Consumer 57

PYMNTS

DECEMBER 28, 2018

Charles Dickens’ famous starter to A Tale of Two Cities , as it turns out, is a pretty good way to sum up the year 2018 from the view of the alternative financial services segment. However, as 2018 wore on, headwinds started to blow back on the segment, most especially in the form of rising interest rates. That amounts to $13.2

Non-Bank 58

Non-Bank Online and Mobile Banking Push-to-Card Consumer 58

PYMNTS

APRIL 7, 2020

economy was running full steam ahead, with record employment levels, wages on the rise and a stock market so dominant that not one but four different companies managed to cross the $1 trillion market cap in the last few months of 2019. Before the COVID-19 pandemic, the standard narrative goes, the U.S.

Economy 52

Economy Consumer Federal Reserve Finance 52

PYMNTS

AUGUST 13, 2018

The July jump is the biggest pick-up the index has seen in a decade, and is considered another piece of evidence that the Federal Reserve should proceed carefully with an interest rate increase. Core inflation spiked 2.9 The core measure of the CPI (Consumer Price Index, which excludes items like food and fuel) was up 2.4

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Fed Federal Reserve Central Bank On-Demand 43

PYMNTS

AUGUST 14, 2018

Reuters , citing a report from the New York Federal Reserve Tuesday (Aug. percent in the second quarter, flat with the first quarter of 2018. American’s increased the amount of money they borrowed in the second quarter, with consumer borrowing reaching $13.29 trillion during the quarter ending in June. percent from 8.9

Consumer 40

Consumer Federal Reserve Credit Cards Fed 40

PYMNTS

AUGUST 21, 2018

Through TARP $700 billion federal dollars were released stabilize the financial system during the financial crisis with a big injection of liquidity. Insofar as the big banks didn’t fall like dominoes and the economy didn’t meltdown entirely in a barter system — the TARP program worked. economy is right now. The size of the U.S.

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Federal Reserve Economy Credit Cards Fed 40

PYMNTS

AUGUST 17, 2018

The reading comes against a backdrop where the Federal Reserve has boosted rates twice in 2018, and where some observers expect there to be two additional rate hikes. That preliminary reading missed the 98 that economists had projected, according to Reuters’ polling. The number also compares unfavorably to the 97.1

Consumer 40

Consumer Federal Reserve Assessments Economy 40

PYMNTS

FEBRUARY 9, 2018

After a spectacular closeout to 2017 – with new price records being broken nearly as soon as they could be set – the early days of 2018 have proven to be much more difficult. And, as of today, it looks like the Federal Reserve has another rock to add to crypto’s sack – or actually two rocks, since two different branches are weighing in.

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