May 18, 2024
Loans

Installments Top Consumer Personal Loan Complaints

The Consumer Financial Protection Bureau detailed in its 2023 Consumer Response Annual Report that consumers have been the targets of fraudulent account openings, and installment loans were the most cited type of personal lending in complaints. The report, released Friday (March 29), noted that complaints about credit or consumer reporting accounted for more than 81%

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Finance

With food inflation still hot, consumers turn to buy now, pay later to buy groceries and takeout

Money is tight, food prices are soaring, and that’s turning more and more Americans to buy now, pay later options to stay afloat. Last year, some 15 million consumers — or 6.5% of the US population — reported using BNPL installment loans to pay for groceries or manage their weekly food expenses, according to research

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