While analysts have expressed concern foreclosures could overwhelm servicers when forbearance ends, new data suggest that outcomes will be manageable in most areas. The foreclosure wave […]
In August, there were 23.7% fewer businesses open relative to January. This represents an increase in small business closures of 1.2%age points since July. A spike […]
Consumer confidence has collapsed amid the coronavirus pandemic and isn’t getting a lift from states re-opening their economies, according to a new report. A Morning Consult […]
Following April’s record one-month decline, consumer confidence inched upward in May by an insignificant amount, according to the University of Michigan Surveys of Consumers. The Sentiment […]
Today, the National Bureau of Economic Research said the U.S. economy peaked in February, ending the longest expansion in U.S. history at 128 months, or about […]
Federal Reserve officials warned the virus outbreak and a partial shutdown of the U.S. economy would result in a decline in the current quarter of historic […]
Spending on JPMorgan Chase & Co. credit cards plunged 40% for the average U.S. family at the start of the coronavirus slowdown, an “enormous” drop that […]
Even as states begin to lift stay-at-home orders in hopes of jump-starting their sagging economies, many banking executives are bracing for a prolonged slowdown that could […]