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'Unregulated danger zone?' Phantom debt from fast-growing buy now, pay later usage could be worse than anyone knows

A new report attempting to dig into the burgeoning “buy now, pay later” financing market finds a lack of transparency, alongside lax oversight, could be concealing a growing consumer debt issue with negative implications for both individuals and the broader economy. Wells Fargo economists published a white paper Monday that assessed both the positive and negative attributes of buy now, pay later options for consumers and finds that based on the limited data available, the current ...
Ny Fed Center Protection Bureau Wells Fargo Consumer Finance Microeconomic Data Cyber Week
Source: yahoo.com

After pandemic, some Filipino-Americans struggle with debts of $38k on average

MANY Filipino-Americans (Fil-Ams) living in the United States are struggling financially this year, with outstanding unsecured debts averaging around $38,000 (P2.1 million), a Fil-Am debt relief financial expert said. We started getting a lot of calls from Fil-Ams this year asking for help on how they can get rid of…
New York United States Federal Reserve Bank York Center Financial Rescue Rod Mercado

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