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Universal Credit £ 20 uplift per week is renewed

The Universal Credit increase of £ 20 per week will be extended for six months, it has been reported. Under the £ 3 billion proposal, the benefit to 5.9 million people would not be cut by £ 85 a month on April 12, as planned, but would instead extend the current level by six months. It follows months of pleas to prevent millions of people from diminishing the benefit, with ITV's Robert Peston reporting that a plan has now been agreed, pending final approval by the prime minister. In a blog post, the channel's political editor - who has been…

JPMorgan warns that a consumer credit crisis could derail India’s economic recovery

A major risk to India's economic recovery is that millions of households and small businesses may be unable to get credit, JPMorgan's chief emerging markets economist said.The government, central bank and analysts underestimate the level of permanent scarring that could be taking place in South Asia's largest economy as a result of last year's pandemic-led contraction, Jahangir Aziz said on CNBC's Friday.Squawk Box Asia.Loss of incomeThe income loss as a result of the coronavirus pandemic amounts to billions of dollars on an annual basis, according to Aziz. “We know that the listed companies have not suffered that much, so it…

Equifax, Experian, and TransUnion Announce Expansion of Free Weekly Credit Reports to Help Americans During COVID-19

WASHINGTON March 2, 2021 / PRNewswire / - The three nationwide consumer credit reporting bureaus provide Americans with free weekly credit reports for an additional year up to April 20, 2022This will continue to help people across the country manage their financial health during the ongoing hardships caused by COVID-19. Under federal law, all consumers are entitled to one free credit report every 12 months from each of the three national consumer information agencies, and under other special circumstances. However, at the start of the pandemic, the agencies increased the frequency to weekly for a period of one year to…

Humm banks buy now, pay later if credit cards decline

The presentation showed customers flocking to installment products as the credit card book shrinks. This reflects the large shift of consumers from revolving credit to payment over time in fixed installments, along with credit card customers using COVID incentive payments to reduce precious balances.Humm has 2.6 million customers, an increase of 40 percent from last year as customers take advantage of the new digital retail offering. App downloads were up 89 percent to 540,000 at the end of the half, with nearly 20,000 new monthly downloads in December. Sales of products that buy now and pay later, that don't charge…

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