Analytics

Americans Are Racking Up ‘Phantom Debt’ That Wall Street Can’t Track

Bloomberg reports that consumers have embraced ‘Buy Now, Pay Later’ products that allow them to pay for purchases in installments, but it’s not clear how many of these loans are out there.
Americans Are Racking Up ‘Phantom Debt’ That Wall Street Can’t Track
It's hard enough for central bankers and Wall Street traders to make sense of the post-pandemic economy with the data available to them. At Wells Fargo & Co., senior economist Tim Quinlan is particularly spooked by the “phantom debt” that he can't see. That specter lurks behind buzzy “Buy Now, Pay Later” (BNPL) platforms, which allow consumers to split purchases... ...

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