Finding 2026 Financial Hardship Assistance

Delinquency rates are still near historic lows. The average delinquency rate since the Fed began tracking in 1991 is 3.69%, while the average considering that 2000 is 3.43%. Current delinquency rates likewise remain well below Excellent Economic downturn levels, when they peaked at almost 7% in 2009 and stayed above 5% for almost two years.

A new report from The Century Foundation (TCF) and Safeguard Debtors exposes the stunning impact of President Donald Trump's affordability crisis on Americans' finances, as an analysis of consumer credit information shows that approximately half of active cardholders and 40 percent of U.S. grownups are not able to pay their charge card expenses completely and carry a balance from month to month.

Of that group, more than 27 million Americans can just pay for the minimum payment every month. The report in addition discovers that Americans have paid a record-setting quantity of interest as an outcome of charge card banks doubling their earnings margins over the last twenty years. Americans have paid a cumulative overall of $2.1 trillion in credit card interest since 2010, which is more than the overall amount of exceptional trainee debt, and the total amount of vehicle loan financial obligation, owed at the end of 2025.

" In spite of assuring to decrease costs 'on the first day', Donald Trump is forcing Americans to pay more on everything from groceries to energies to health care and child care. Families are falling further behind on their expenses with charge card delinquencies at their greatest rate in more than a years," "Donald Trump could deal with Congress to deliver on his pledge to top credit card rates of interest at 10% saving the typical American with charge card debt about $900 a year.

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" Banks have actually used interest rates to pad their bottom line while 40 percent of Americans can't keep up with their charge card costs. We require our leaders to stroll the walk when it pertains to checking these huge banks and business, not just talk the talk." "Grocery, energy, and healthcare costs are piling up, and Americans are progressively turning to credit cardssome carrying rates of interest going beyond 22 percentjust to make ends meet," "President Trump guaranteed to tackle squashing charge card rates of interest by January 20 of this year, however that due date has actually reoccured.

Indiscriminate tariffs and untreated corporate greed have raised the expense of whatever from groceries to clothes to utility bills, and the administration's signature legal proposition focused not on bringing down expenses, but rather on lavishing generous tax cuts on industries and the richest Americans. Previously this year, in an effort to stem his self-created price crisis, Trump assured that by January 20, he would cap charge card rate of interest at 10% for one year, but more than a month past his self-imposed deadline, has actually failed to do soand failed to address credit card interest at his prolonged State of the Union address.

Further, the Trump-controlled Consumer Financial Defense Bureau (CFPB) has permitted the nation's greatest banks to continue charging Americans huge charge card late charges that tally more than $17 billion each year, according to the CFPB's own December 2025 report. The joint TCF/Protect Debtors analysis uncovers further unpleasant patterns behind Americans' increasing reliance on high-interest credit cards.

Debtors of color are also disproportionately falling back, exposed to inflated interest rates, and most likely to be forced to turn to alternative and more predatory sources of credit. ### (previously Trainee Customer Security Center) is a not-for-profit company led by a group of experts, attorneys, and advocates battling to construct an economy where financial obligation doesn't limit opportunity.

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We aim to provide instant relief to families while constructing power, driving systemic modification, and defending racial and economic justice. Discover more at or follow us on social. The Century Foundation (TCF) is a progressive, independent think tank that carries out research, develops options, and drives policy change to make individuals's lives better.