Porter & Co.

Households still have plenty of excess savings left, see chart below. That is the reason why consumer spending remains so strong, in particular consumer spending on services such as airlines, hotels, restaurants, etc. Source: Bloomberg, Apollo Chief Economist

Based on recent reports from many of the consumer companies we follow, we agree with Walmart—the consumer is under a lot of stress. Even with unemployment near record lows, the average consumer is having trouble affording tires, shoes, apparel, and other goods. The main culprit, accumulated inflation, is crushing middle to lower-income consumers. Meanwhile, high-end

Citizens Financial Group, Inc. (NYSE: CFG) today announced that it will no longer originate indirect auto loans, effective July 1, 2023, as part of its strategy to optimize its balance sheet and emphasize relationship-based lending. Citizens will retain and continue to service existing auto loans on its balance sheet. “As Citizens continues to optimize its

More than three years after a moratorium on student loan repayments was enacted by the federal government, borrowers are now staring down a rapidly approaching end to the pause. New rules passed as part of the recent debt ceiling legislation dictate that the Biden administration cannot extend the pause again, and so payments are now

Consumer Credit numbers from the Fed, chart by Mish. Consumer Credit numbers for April are from the Fed’s G.19 Consumer Credit report. Nominal Growth Synopsis Nonrevolving Government Credit (student loans) is best viewed as essentially unchanged for three months. Revolving Consumer Credit in Billions of Dollars Consumer Credit numbers from the Fed, calculation and chart

With American households battling inflation and rising interest rates, auto lenders are seeing increased occurrences of auto-loan delinquencies – but almost entirely in the subprime segment. Surpassing levels last seen during the Great Recession, account-level delinquency rates of auto loans 60+ days past due (DPD) have risen 26 basis points from Q1 2021’s 1.43% to

More Americans are entering into auto loans that exceed the worth of their cars after vehicle values declined in the wake of dramatic increases during the pandemic, a report has found. Used car loan-to-value ratios increased to 125 in the first three months of this year from 104 for the same period in 2021, according