Eric Bank

Finance Writer
Eric Bank

About the Author

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.

Latest Posts

341 posts written/edited to date

Blog

231 views

3 min read

U.S. Consumer Debt Hits $17.8 Trillion as Delinquency Risk Builds Below the Surface

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 »

By: Eric Bank • 7/11/25

Blog

253 views

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Subprime Lenders Stall as Fed Offers Few Clues on Rate-Cut Timing

Subprime Lenders Stall as Fed Offers Few Clues on Rate-Cut Timing

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

Blog

315 views

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New Fed Data Reveals Growing Strain on Subprime Borrowers

New Fed Data Reveals Growing Strain on Subprime Borrowers

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

Blog

220 views

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SBA Loan Surge Signals Small Business Resilience, But Cap Constraints Loom

SBA Loan Demand Rises, Testing Program’s $35B Ceiling

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

Blog

315 views

3 min read

Debt Relief Data Shows Location and Utilization Are Key to Predicting Default

Location and Utilization Key to Predicting Default Risk

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

Blog

624 views

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Stretching to Afford: Seven-Year Car Loans are Becoming the New Normal

Stretching to Afford: Seven-Year Car Loans Go Mainstream

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

Blog

442 views

3 min read

FHFA Approval of VantageScore 4.0 May Unlock Opportunities for Millions of Thin-File Borrowers

VantageScore 4.0 Gets FHFA Nod, Expands Mortgage Access

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

Blog

893 views

1 min read

$33M in Refunds, 26K Complaints: Why Lenders Can’t Afford Oversight Gaps

Lender Oversight Failures Lead to $33M in Refunds, FDIC Warns

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

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