After years of discussion, the Biden administration announced in August 2022 that it would be cancelling USD10,000 of student loan debt for eligible Americans. To be eligible, an individual needs to make less than USD125,000 a year, or less than USD250,000 a year for a household.
One of the trends transforming the consumer credit space is buy now pay later (BNPL). BNPL is expected to be one of the fastest growing trends in the forecast period, as more consumers become aware of these products, and they become more integrated into the technology consumers already own.
Consumer credit is becoming increasingly digitalised, with everything from loan applications to customer service being offered online. Consumers are increasingly expecting not to have to go into a physical bank branch for financial activities, and financial services operators are adapting to keep up.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in USA, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See All of Our DefinitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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