New York Fed Research Shows Increase in Delinquencies Among Gen Z Credit Cardholders
Tuesday, 14 May 2024, 16:26
Gen Z Credit Card Delinquencies on the Rise
The Federal Reserve Bank of New York released new research findings that reveal a worrying uptick in delinquencies among Gen Z credit cardholders. The report indicates that despite a minor decrease in credit card balances during the first quarter, a growing number of borrowers are struggling to meet their payment obligations.
Increasing Financial Strain on Young Consumers
- More Gen Z cardholders are maxed out on their credit cards
- Credit card delinquencies are a growing concern
- Importance of financial education for younger consumers
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.