Reality Check

Regions Bank Teams Celebrate Financial Literacy Month by Sharing the Good

Retrieved on: 
Tuesday, April 2, 2024
Teens, Children, Finance, Banking, Professional Services, Other Education, Continuing, Consumer, Primary, Secondary, Education, Community, Employment, Washington High School, Culture, Volunteering, Volunteers of America, Reality Check, School, Booker, Bank, Life, Boy, JA, Regions Financial Corporation, Student, Tarrant High School, Region, GEAR, Community engagement, Curriculum, Disability, Good, Multimedia, Financial Literacy Month, Teaching, Tutoring

To complement the bank’s Financial Literacy Month activities this April , Regions’ 2024 Share the Good theme is Helping Students Build Financial Confidence.

Key Points: 
  • To complement the bank’s Financial Literacy Month activities this April , Regions’ 2024 Share the Good theme is Helping Students Build Financial Confidence.
  • According to Gina Sian, who leads the Regions Making Life Better Institute® program, aligning Share the Good initiatives with Financial Literacy Month integrates volunteerism with a key pillar of Regions Bank’s community engagement strategy – financial wellness.
  • Examples include:
    Birmingham, Ala.: Regions teams in Jefferson and Shelby counties are organizing several financial wellness events:
    On April 17, GEAR UP Jefferson County is hosting Regions Day.
  • Raleigh, N.C.: Regions Market Executive Terry Hoey is leading by example, teaching financial literacy courses at the Boys and Girls Clubs of Wake County , and he’s passionate about Sharing the Good.

WNS and HFS Research Launch Gen AI Market Impact Report

Retrieved on: 
Tuesday, February 27, 2024
Technology, Finance, Consulting, Accounting, Professional Services, Business, Internet, Data Analytics, Data Management, Artificial Intelligence, Research, Multimedia, AI, Gen, BPM, Business transformation, Reality Check, Holding, HFS, Business process management, Customer, Face, Pressure, Partnership, Customer service

WNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management (BPM) solutions, today announced the launch of a market impact report, Democratizing Gen AI: A Reality Check for Business Transformation , in partnership with HFS Research, the global research and analysis firm.

Key Points: 
  • WNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management (BPM) solutions, today announced the launch of a market impact report, Democratizing Gen AI: A Reality Check for Business Transformation , in partnership with HFS Research, the global research and analysis firm.
  • The report highlights insights from business leaders across seven industries, who have shared their priorities, challenges, and progress in their respective Gen AI journeys.
  • View the full release here: https://www.businesswire.com/news/home/20240226147000/en/
    According to the report, Gen AI represents a transformative force with the potential to democratize access to AI and flatten decision-making structures.
  • As Gen AI democratizes AI across the enterprise, decision-making power concerning AI applications and other critical aspects will be decentralized.

Elon Musk's Carbon Tax Promo Fails says Friends of Science Society

Retrieved on: 
Thursday, February 22, 2024
Tax, Reality Check, COP28, Parent, OSFI, Climate emergency, Climate change, Human, COP26, UNFCCC, House, Fear, Legislation, Energy, Friends, RCP, Bank, Friends of Science, BOC, NetZero, Climate, Science Society of China, ENGO, BIS, Commons, Cato Institute, Conference, Bank of Canada, Environment, FUND, GHG, Public policy, Poverty, Government, Projection, No Reason, Musk, Bangladesh Technical Education Board, Superintendent, Failure, Financial institution, Renewable energy

CALGARY, Alberta, Feb. 22, 2024 /PRNewswire-PRWeb/ -- "Elon Musk's Unbelievably Simple Killer Break Down on Climate Change" - a video released on Feb. 03, 2024, which promotes a carbon tax, is a failure, says Friends of Science Society. As reported by the CATO Institute on Feb. 08, 2024, the video's voice over recycles a speech Elon Musk gave at the Panthéon‐Sorbonne University in Paris, coincident to the Paris "COP21" Climate Conference in 2015.

Key Points: 
  • Elon Musk's video promoting the notion of a carbon tax as a means to mitigate climate change is a ''failure'' says Friends of Science Society, referring to Canada's disastrous experience with carbon tax and inflation.
  • CALGARY, Alberta, Feb. 22, 2024 /PRNewswire-PRWeb/ -- " Elon Musk's Unbelievably Simple Killer Break Down on Climate Change " - a video released on Feb. 03, 2024, which promotes a carbon tax, is a failure, says Friends of Science Society.
  • Numerous academics and economists back the carbon tax as 'the solution' to climate change, but Friends of Science Society calls this " CarbonTax – a-philia : Unnatural Love of Carbon Taxes for No Reason."
  • Friends of Science Society says Canada's experience with carbon tax and rebate shows the method fails to reduce emissions while simultaneously driving up inflation.

As ChatGPT Approaches First Anniversary, C Space Quiz Shows Significant Artificial Intelligence (AI) Education Gap for Consumers

Retrieved on: 
Thursday, November 30, 2023
Artificial intelligence, Facial recognition, Social media, Shock, Reality Check, AI, C space, Emotion, Organization, Knowledge, Education, ChatGPT, Customer service

Titled "A Reality Check on Artificial Intelligence," the quiz employed an AI diagnostic tool to gauge perceptions of AI to 500 general population consumers through unaided associations and questions on AI’s values, emotions and societal impact.

Key Points: 
  • Titled "A Reality Check on Artificial Intelligence," the quiz employed an AI diagnostic tool to gauge perceptions of AI to 500 general population consumers through unaided associations and questions on AI’s values, emotions and societal impact.
  • Among its findings were two key themes:
    Familiarity with AI correlates to knowledge.
  • Presented with a list of 13 scenarios, all of which use AI, C Space asked respondents to identify which scenarios they think involve AI.
  • “AI is a broad field and has been around for decades, the generative form only recently being popularized by ChatGPT.

Nearly 60% of Credit Cardholders in the U.S. Live Paycheck to Paycheck

Retrieved on: 
Monday, December 18, 2023
Bureau, Bureau of Labor Statistics, Research, NYSE, SAN, LendingClub, Federal, Fraud, Theft, Credit, Partnership, Reality Check, The Transactor, Government, Female, Federal Reserve, Face, Intelligence, Online shopping, Pension fund

SAN FRANCISCO, Dec. 18, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today released key findings from the 29th edition of the Reality Check: Paycheck-To-Paycheck research series, conducted in partnership with PYMNTS Intelligence. The Credit Card Use Deep Dive Edition examines the financial lifestyles of U.S. consumers and explores how they use credit cards to manage their cash flows to get by. This edition draws on insights from a survey of 3,252 U.S. consumers conducted from Nov. 6 to Nov. 22 and an analysis of other economic data.

Key Points: 
  • As of November 2023, 62% of consumers lived paycheck to paycheck, mirroring last year's statistics and slightly higher than last month.
  • Consumers living paycheck to paycheck own nearly 60% of the credit cards in the U.S.
  • The research also confirms that those living paycheck to paycheck are more likely to struggle with higher credit balances and to pay bills.
  • The likelihood of a cardholder having pending repayments from an installment plan rises sharply among those who live paycheck to paycheck.

77 Percent of Consumers Plan to Participate in the 2023 Holiday Shopping Season

Retrieved on: 
Monday, November 20, 2023
Bureau, Bureau of Labor Statistics, Research, NYSE, SAN, LendingClub, Generation, Federal, BNPL, Generation X, Friends, Credit, Lead, Partnership, Reality Check, Generation Z, Growth, Family, Government, Female, Federal Reserve, Intelligence, Retail, Online shopping

SAN FRANCISCO, Nov. 20, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today released key findings from the 28th edition of the Reality Check: Paycheck-To-Paycheck research series, conducted in partnership with PYMNTS Intelligence. The Holiday Shopping Deep Dive Edition examines the financial lifestyles and spending choices of U.S. consumers going into the 2023 holiday shopping season. This edition draws on insights from a survey of 3,640 U.S. consumers conducted from Oct. 3 to Oct. 19 and an analysis of other economic data. 

Key Points: 
  • The Holiday Shopping Deep Dive Edition examines the financial lifestyles and spending choices of U.S. consumers going into the 2023 holiday shopping season.
  • As of October 2023, 60% of consumers lived paycheck to paycheck, unchanged from a year prior.
  • Even though consumers believe their financial health is worse than a year ago, 77% expect to shop during the 2023 holiday season, only slightly less than the 78% seen a year ago.
  • Credit cards take the lead among credit options for holiday shopping, at 27%, followed by buy now, pay later (BNPL), at 20%.

Consumers Deplete an Average of 67% of All Available Savings Once Every Four Years

Retrieved on: 
Monday, October 30, 2023
Female, Federal Reserve Bank of St. Louis, Marriage, Gen, Ageing, NYSE, Generation Z, Pressure, Bureau of Labor Statistics, Federal Reserve, Motivation, Bureau, Research, Federal, Growth, Partnership, LendingClub, LC, Travel, Intelligence, The New Reality, Unemployment, Reality Check, Government, SAN, Pension fund, Bank, Insurance, Retail

SAN FRANCISCO, Oct. 30, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today released key findings from the 27th edition of the Reality Check: Paycheck-To-Paycheck research series, conducted in partnership with PYMNTS Intelligence. The Savings Deep Dive Edition examines consumers' ability to preserve their savings in the current economic environment, especially when faced with major expenditures. This edition draws on insights from a survey of 3,648 U.S. consumers conducted from Sept. 5 to Sept. 20 and an analysis of other economic data.

Key Points: 
  • The Savings Deep Dive Edition examines consumers' ability to preserve their savings in the current economic environment, especially when faced with major expenditures.
  • Aggregate consumer savings amounted to an average of $11,000 per consumer in September 2023, roughly unchanged from a year ago.
  • These depletions occur on average every four years and use 67% of the average consumer's available savings, with Gen Z emptying 70% of their savings as often as every two years.
  • Consumers disclose that financial contingencies, such as debt accumulation (15%) and investment losses (15%), also cause them to deplete their savings.

Nearly Half of U.S. Consumers Report Their Financial Livelihood Fluctuates Seasonally

Retrieved on: 
Wednesday, September 27, 2023
Bureau of Labor Statistics, Intelligence, The New Reality (TV program), Partnership, LC, LendingClub, Reality Check, Bureau, Perception, St. Louis Fed Financial Stress Index, Structure of the Federal Reserve System, Season, Child, Financial distress, Government, Credit, Federal Reserve, NYSE, Female, Driver, Retail, Cryptocurrency, Pension fund, Q3, Q2

SAN FRANCISCO, Sept. 27, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today released key findings from the 26th edition of the Reality Check: Paycheck-To-Paycheck research series, conducted in partnership with PYMNTS Intelligence. The Seasonal Financial Distress Deep Dive Edition examines the impact of seasonal spending on consumers' ability to manage expenses and put aside savings. This edition draws on insights from a survey of 4,218 U.S. consumers conducted from Aug. 2 to Aug. 15, supplemented by analysis of other economic data.

Key Points: 
  • "The data underscores the pervasive nature of financial challenges affecting a majority of consumers," said Alia Dudum, LendingClub's Money Expert.
  • However, the problem is that there is more month at the end of the money, and seasonality is affecting consumers' financial distress."
  • Nearly half of all consumers say their financial standing fluctuates seasonally.
  • While nearly half of consumers report cutting back on nonessential expenditures to deal with seasonal financial challenges, the most frequently cited coping strategy across all financial lifestyles is using credit.

LendingClub and PYMNTS Research Shows 86% of Consumers Live with One or More People, Yet Those Living with Only Partners or Spouses Reap the Financial Benefits

Retrieved on: 
Monday, July 31, 2023
Bureau of Labor Statistics, Partnership, Housing, LC, Gen, Millennials, LendingClub, Reality Check, Face, Friends, Parent, Bureau, Structure of the Federal Reserve System, Roommate, Research, Falls, Generation Z, Economics, Sibling, SAN, Government, Federal Reserve, NYSE, Female, Real estate

SAN FRANCISCO, July 31, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today released findings from the 24th edition of the Reality Check: Paycheck-To-Paycheck research series, conducted in partnership with PYMNTS. The Household Finances Deep Dive Edition examines the impact of household composition on consumers' ability to manage expenses and put aside savings. The series draws on insights from a survey of 4,602 U.S. consumers conducted from June 5 to June 16, as well as analysis of other economic data. 

Key Points: 
  • Among consumers earning $50,000 to $100,000, 65% lived paycheck to paycheck as of June 2023, compared to 60% in June 2022.
  • Consumers living with only a partner or spouse are likely to face less financial hardship, while those with dependents and those living with friends or housemates are more likely to live paycheck to paycheck.
  • The research finds that 86% of consumers live with one or more people, and one-third of paycheck-to-paycheck consumers live in households of four or more people.
  • Among consumers living with friends or housemates, 77% live paycheck to paycheck — the most likely to do so.

Consumer Emergency Expenses Rise 16% Year-Over-Year to $1,700, Far Exceeding The $400 Benchmark

Retrieved on: 
Monday, June 26, 2023
Well, Bureau of Labor Statistics, Partnership, Travel, LC, LendingClub, Reality Check, Face, Federal, Electronics, Bureau, Structure of the Federal Reserve System, Clothing, Emergency, Federal Reserve Bank of St. Louis, Federal Reserve, SAN, Growth, Government, Annual report, NYSE, Household, Female, Renewable energy, Insurance, Retail, Online shopping

SAN FRANCISCO, June 26, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today released findings from the 23rd edition of the Reality Check: Paycheck-To-Paycheck research series, conducted in partnership with PYMNTS. The Emergency Spending Deep Dive Edition examines the impact of financial stressors, such as emergency spending, on consumers' ability to manage expenses and put aside savings as well as the rising trend in unexpected expenditures among young and affluent consumers. The series draws on insights from a survey of 3,620 U.S. consumers conducted from May 3 to May 18, as well as analysis of other economic data.

Key Points: 
  • LendingClub and PYMNTS have examined this topic since 2022 and have found that the $400 benchmark does not accurately reflect today's consumer experience.
  • In fact, two-thirds of the unexpected expenses* consumers experienced cost more than the benchmark of $400, with 41% spending double that amount or more.
  • How consumers pay for emergency expenses correlates with their financial situations and the cost of the expense.
  • While consumer financial lifestyles dictate how they choose to finance an unexpected emergency, two-thirds of consumers overall were able to face unexpected expenses without reducing everyday spend.