CFI COVID-19 Survey of Consumers — Wave 2 Updates, Impact by Race/Ethnicity, and Early Use of Economic Impact Payments
To gain insights into the impact of COVID-19 on financial security in the U.S., the Consumer Finance Institute is conducting a series of national surveys of consumers that focus on changes in job status, income levels, and personal financial security.
Expectations of Student Loan Repayment, Forbearance, and Cancellation: Insights from Recent Survey Data
This report adds to our understanding of student borrower experiences with and future expectations of student loan repayment, forbearance, and loan cancellation using responses to the January 2022 and April 2022 waves of the COVID-19 Survey of Consumers conducted by the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute (CFI).
CFI COVID-19 Survey of Consumers — Recovery Is Starting, but Not for Everyone
In an effort to gain insights into the impact of the COVID-19 pandemic on financial security in the U.S., the Consumer Finance Institute at the Federal Reserve Bank of Philadelphia is conducting a series of national surveys of consumers that focus on changes in job status, income levels, and personal financial security. Data presented here represent results from the eighth wave of the survey conducted between April 5 and 23, 2021
Cryptocurrency Ownership During a Crypto Winter: Effects of a Downturn on Consumer Attitudes to Crypto
In January 2022, the Consumer Finance Institute (CFI) at the Federal Reserve Bank of Philadelphia, in conjunction with economists from the Federal Reserve Board, conducted a survey to establish a baseline understanding of the penetration that cryptocurrencies have achieved among consumers. Results from that survey were most recently published in April 2023.
Household Rental Debt during COVID-19
This report estimates the number of households with rental debt — and the amount of debt owed — resulting from employment losses attributable to COVID-19.
CFI COVID-19 Survey of Consumers — An Assessment of the Financial Health and Stability of U.S. Consumers
In an effort to gain insights into the impact of COVID-19 on financial security in the U.S., the Consumer Finance Institute at the Federal Reserve Bank of Philadelphia conducted a national survey of consumers that focused on changes in job status, income levels, and personal financial security. Additionally, we sought respondents’ attitudes toward various relief efforts proposed or enacted to support citizens during the pandemic. Data presented here represent results from the first wave of the survey conducted April 3‒10, 2020. The survey will be conducted up to six times through the end ...
CFI COVID-19 Pandemic's Impact on Third District Consumers
This research brief highlights a survey that measures the pandemic’s effect on employment and financial status of consumers who live the Third District
Consumers Anticipate Long-Lasting Impact from Financial Damage
As part of its effort to understand the economic impact of the pandemic, the Consumer Finance Institute (CFI) surveyed consumers about their economic situations and attitudes. Many of the findings echoed the severe job losses and paycheck disruptions found in the government data and media coverage. A new and interesting takeaway of the survey, however, is the cautious view going forward: When we surveyed consumers in April, a significant share of respondents did not think their finances would recover soon. Many expected to need to decrease their spending or to seek financial assistance in ...
Overdraft Use During the Pandemic: Insights from the CFI COVID-19 Survey of Consumers
This research brief examines consumers’ use of checking account overdrafts since the beginning of the COVID-19 crisis, using responses gathered from a special module in the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute COVID-19 Survey of Consumers conducted between July 5 and 16, 2021. The overdraft module includes responses from a national sample of 3,615 consumers, 1,054 of whom reported experiencing at least one overdraft charge during the crisis. Respondents provided their demographic and employment characteristics as part of the broader survey. Survey participants ...
Supporting Philadelphia’s Black Homeowners in the Aftermath of the COVID-19 Crisis
Homeownership remains an important means of building wealth in the United States.2 Purchasing a home early in adulthood can also lead to a virtuous cycle of accumulation by enabling homeowners to borrow against the value of their home to finance investments in higher education, entrepreneurship, and additional asset acquisition that, in turn, can boost lifetime earnings and capital gains.