Data from American Express, Synchrony Financial, Ally and Santander show that while debt levels might be at their highest level people so far can handle it and are making payments; Ally CEO Jeffrey Brown explained during the firm’s quarterly earnings call, “Employment conditions remain robust. Wage growth has continued to accelerate in 2019, and the consumer balance sheet remains well positioned.”; late payments for credit cards & auto loans reached seven year highs but it is believed that those levels are getting back to normal and do not represent a troubling trend. Source.
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.