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2020 Consumer Finance Trends

Payment Savvy

Technological advancements are re-shaping financial entities and improving both their service delivery and product offerings. Both consumers in need of financing and financial institutions extending credit are noting the changes and look to the future of the industry with much anticipation.

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Americans Are Carrying Record Household Debt into 2024

Collection Industry News

This includes mortgages, home equity revolving debt, auto loans, credit cards, student loans and other consumer lending such as retail cards. Auto loan and mortgage debt increased by 4%, while student loan debt saw a modest rise of 1.6%. A lower interest rate would allow some borrowers to refinance high-interest loans.