Consumers have become more negative about their credit situation over past month, according to the Experian-Gallup Personal Credit Index, which measures consumer confidence month to month. The decline comes equally from concerns about the present and future, the survey found. Only 15% of consumers say now is a good time to borrow more money, down from 20% last month. Future concern about extending debt also contributed to the drop in consumers' feelings about their credit, making the debt extension issue now and in the future account for more than half (five points) of the overall nine-point decline in the index, the company said.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3