No Debt About It: Managing the Debt Surge with Compassion

No Debt About It: With non-housing debt at $4.9tn and credit card delinquency rates rising, the Federal Reserve's interest rate cut will encourage spending, prompting financial institutions to offer innovative solutions like cash-back debit cards and enhanced debt management to prevent consumer overextension.

Questions to Ponder:

• Should banks focus more on empathy-driven marketing to remove the stigma around debt?

• How can banks integrate mental health messaging into their financial wellness initiatives without being performative?

• Are there unexplored ways to align loan products with consumers’ financial goals, beyond the typical interest-free offers?