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Report
CFI COVID-19 Survey of Consumers — Relief Programs, Vaccines, and the Effects of the Crisis on Renters and Mortgage Holders
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 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 seventh wave of the survey conducted between January 4 and 15, 2021
Report
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.
Report
How Has the COVID-19 Pandemic Affected the Supply of Consumer Credit?
For credit card companies and other lenders, the pandemic has created a variety of risks and challenges. This report examines how credit card lenders have responded to the COVID-19 pandemic.
Report
The Crisis in November: Concerns Rise as Job and Income Recovery Slow
Fresh data collected in early November from Wave 6 of the survey confirm that, despite fewer respondents reporting job loss, respondents reported larger income declines and concerns about the future continuing to grow.
Report
“CFI COVID-19 Survey of Consumers — Wave 5 Supplies More Details on Disruptions and New Data on Savings
This report shares results from Wave 5 of a national survey of consumers investigating COVID-19 impacts on job status, income, and personal financial security.
Report
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 ...
Report
Vaccine Reluctance Is Diminishing but Still High in a Few Industries
Americans are becoming more receptive to getting COVID-19 vaccines, but pockets of reluctance remain, including in industries in which personal contact is essential to doing business.
Report
Consumers Are Shifting Payment Options
This research brief discusses how consumers have changed their use of various payment and banking tools during the pandemic. It also sheds light on the payment resources consumers have available.
Report
CFI COVID-19 Survey of Consumers — Wave 3 Reveals Improvements, but Not for Everyone
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 is conducting a series of national surveys of consumers that focus on changes in job status, income levels, and personal financial security.
Report
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 ...