U.S. Debt Hits $17.8 Trillion as Signs of Strain Begin to Surface
U.S. consumer debt stood at $17.80 trillion in May 2025, according to Equifax’s latest credit trends report. That’s a 2.1% year-over-year jump,... read more »
Eric Bank has been covering business and financial topics since 1985, specializing in taking complex subject matters and explaining them in simple terms for consumer audiences. Eric's writing regularly appears on Credible.com, eHow, WiseBread, The Nest, Get.com, Zacks, Chron, and dozens of other outlets. A former software engineer, Eric holds an M.B.A. from New York University and an M.S. in finance from DePaul University.
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U.S. consumer debt stood at $17.80 trillion in May 2025, according to Equifax’s latest credit trends report. That’s a 2.1% year-over-year jump,... read more »
By: Eric Bank • 7/11/25
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The minutes for June at the Federal Reserve were publicly released on July 9 and pointed to most officials at the central bank believing one or... read more »
By: Eric Bank • 7/11/25
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A big batch of new data accompanies the Federal Reserve Bank of Philadelphia’s latest release, bringing 67 new variables online to its Large Bank... read more »
By: Eric Bank • 7/11/25
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As SBA loan activity builds steam, small businesses are standing firm, report banks. Businesses are more upbeat, according to a recently... read more »
By: Eric Bank • 7/10/25
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A midyear review by Freedom Debt Relief found that 1 in 4 people seek its help with at least one account in collections. The average size of the... read more »
By: Eric Bank • 7/10/25
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More than 22% of new car buyers took out loans lasting seven years or longer in Q2 2025 — a record share, according to new data from Edmunds. And... read more »
By: Eric Bank • 7/10/25
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The lending industry was given a jolt recently when Federal Housing Finance Agency Director William J. Pulte tweeted on X that Fannie Mae and... read more »
By: Eric Bank • 7/10/25
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The Federal Deposit Insurance Corp. (FDIC) received more than 26,000 consumer complaints about problems with banks, credit cards, and other... read more »
By: Eric Bank • 7/9/25