Category Archives: Business & Economy

Sub-Prime Auto Credit Deteriorates In July, Says Report

Sub-Prime Auto Credit Deteriorates In July, Says Report

Kroll Bond Rating Agency (KBRA) published its Auto Loan Indices for July and reported deteriorating credit conditions for non-prime auto and prime loan pools. In July, losses climbed on both MoM and YoY basis. Annualized net losses rose 67bps MoM and 25bp YoY to 7.30%, while the percentage of borrowers that were two months late increased to 4.41%

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Student Debt Crushes Home-buying Dreams For Millennials , Now Delayed 8 Years

Student Debt Crushes Home-buying Dreams For Millennials , Now Delayed 8 Years

The life-altering impacts of student loan debt on millions of millennials is debilitating towards their financial health. At least 60% of millennials have no savings, and their poor financial health has contributed to the reason why so many young adults can’t afford a down-payment on their first home. About 40% of millennials have student debt, according to the AARP, and Clever Real Estate says the student debt has delayed home buying by eight years for millennials.

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There Are Now More Than 5,000 Bitcoin ATM’s Around The World

There Are Now More Than 5,000 Bitcoin ATM’s Around The World

The total number of bitcoin ATMs (BTMs) worldwide reached 5,000 for the first time. There are now 5,006 standalone BTMs in around 90 countries, where cryptocurrency users can buy or sell bitcoin (BTC). Some machines offer both services simultaneously. A deal earlier in the year involving coin counting kiosk operator Coinstar brought bitcoin functionality to over 2,200 U.S. locations. The U.S. currently has more than half of the world’s BTMs at 3,229, with a new pilot scheme this month bringing the machines to Circle K convenience stores in Arizona and Nevada.

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Which US States Are Most Exposed To China And Mexico Tariffs

Which US States Are Most Exposed To China And Mexico Tariffs

JPMorgan recently examined what types of goods the US imports from China and Mexico and where they go. While it is still too early to see much reaction to the news on trade policy from recent weeks in the economic activity data, JPM thinks that “understanding the cross section of goods imports will be useful in observing effects of the tariffs over time.

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Millennial Net Wealth Collapses, Study Finds

Millennial Net Wealth Collapses, Study Finds

The net worth of millennials (18- to 35-year-old) has collapsed 34% since 1996, according to a new, shocking report from Deloitte. Millennials are financially worse off than any other generation before them. With student loans, auto and credit card debts, rising rents, and out of control, health-care costs have pushed their average net worth below $8,000.

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New Rule Could Allow Debt Collectors To Spam 49 Million Americans With Emails And Texts

New Rule Could Allow Debt Collectors To Spam 49 Million Americans With Emails And Texts

The Consumer Financial Protection Bureau (CFPB) under the Trump administration, has published a Notice of Proposed Rulemaking (NPRM) to amend the Fair Debt Collection Practices Act (FDCPA). The CFPB’s proposal would change Regulation F to direct Federal rules overseeing the activities of debt collectors. The new proposal would allow debt collectors to call consumers as frequently as seven times per week and be permitted to start sending emails and texts.

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The Glut Cometh

The Glut Cometh

All the economic shell-gaming that has been happening since the 2008 crash may finally be coming to a head for the American Auto Industry. Interest rates can’t be kept low to no anymore and car loans can’t be extended much more, either. More than 4.2 million new cars are stacked up unsold as of this month – which is an alarming half-million more cars than were stacked up before. Why? Because people can’t afford to buy new cars. For many, the difference between a $399 per month payment and a $475 per month payment (or whatever the amount depending on the buyer/car) is causing people to hesitate where they previously would have signed the paperwork.

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