Friday, April 10, 2026

Consumers Opting for Larger Vehicles During Pandemic

Tue, 05 January 2021  |  spending automotive 

Consumers in the financial position to buy a new car during the coronavirus (COVID-19) pandemic aren't holding back on upsizing their purchases in favor of bigger vehicles with more amenities. According to the car shopping experts at Edmunds, the average down payment for a new vehicle climbed to $4,734 in the fourth quarter, compared to $4,458 in the third quarter and $4,329 a year ago. The average amount financed for new vehicle purchases increased as well, climbing to $35,373 in the fourth quarter compared to $34,692 in the third quarter and $33,525 a year ago. And, Edmunds data reveals... Read More

2020 Bankruptcy Filings Lowest in 35 years

Tue, 05 January 2021  |  bankruptcy 

According to new data released by Epiq Systems, 2020 had the lowest number in bankruptcy filings since 1986 with a total of 529,068 filings across all chapters.

For December, the total new U.S. bankruptcy filings across all chapters was 34,304 for the month, the lowest monthly total since January 2006. The category that continues to grow year-over-year is commercial Chapter 11 filings, which were up 29% with 7,128 new filings in 2020 compared to 5,518 in 2019.

“The peak in Chapter 11 filings for Q2 and Q3 is due to preexisting distressed companies coupled with the on... Read More

Health of largest U.S. corporate pension plans showed no improvement in 2020

Mon, 04 January 2021  |  pensions retirement 

The funded status of the nation’s largest corporate pension plans started and finished 2020 at the same level as declining interest rates caused pension obligations to grow, offsetting gains from investments in equities and bonds. This is according to an analysis by Willis Towers Watson, a leading global advisory, broking and solutions company.

Willis Towers Watson examined pension plan data for 366 Fortune 1000 companies that sponsor U.S. defined benefit pension plans and have a December fiscal-year-end date. Results indicate that the aggregate pension funded status is estima... Read More

COVID-19 Impacting Short Term Retirement Planning

Mon, 04 January 2021  |  pandemic retirement consumer confidence 

A majority of today’s workers and retirees range from feeling cautious to pessimistic about the economic outlook for 2021, with nearly 75% concerned about how the global pandemic may impact their retirement savings, according to the latest Principal® Retirement Security Survey. The study gauged consumer concerns and actions around saving for retirement, financial plans, and reactions to COVID-19 and the accompanying market and economic impacts.

Consumers say health and financi... Read More

Millennials Most Likely to Make Financial Resolution for 2021

Fri, 01 January 2021  |  pandemic millennials 

This year, 65% of Americans are considering a financial resolution for 2021, which is down marginally from last year (67%), but still quite strong given the headwinds experienced by so many families. Younger generations appear to be more committed to actively improving their finances in the new year, with 78% of all Gen Z and Millennial respondents considering a financial resolution compared to 59% of all Gen X and Boomers.

According to Fidelity Invest... Read More

Lemonade Ends Year With Over One Million Active Customers

Thu, 31 December 2020  |  insurance fintech insurtech 

Lemonade, the insurance company powered by artificial intelligence and behavioral economics, announced it has more than one million customers. Lemonade hit this milestone about 1,500 days after its initial launch, some 15-45 years faster than industry leaders such as State Farm, Allstate, GEICO, and USAA. Lemonade previously reported a total of 941 thousand customers at the end of the third quarter of 2020.